Just over three years ago a small of scientists, engineers, and technicians joined together in a hotel meeting room in Kuala Lumpur, Malaysia following a conference, to discuss innovative ways to create a cost-effective loss control device based on RFID technology that could be marketed to international electronics retailers.
By leveraging existing advances in RFID technology pioneered with Big Box retailers, and using leading edge breakthroughs in micro electronic circuitry, the group around the table agreed that they could design and produce such a system cost effectively. Thus was born RFID WireTrack Technology®.
Since that first meeting this small group of scientists and engineers pulled together private equity funding and started the research and development work needed to perfect this new RFID Wire circuitry device and scanners so that a complete loss control system could be packaged and sold to both big and small electronics retailers at a fraction of the cost currently used by legacy RFID systems used by the Big Box Retailers.
RFID Wire Systems is currently in beta testing with a handful of companies around the world, both bricks and mortar, and online e-tailers, to perfect the system ‘loop’ and refine tracking protocols that are embedded in the system. Tiny wires and or wafers hidden inside the electronics provide a virtual signature that can be traced directly to the retailer. This gives each retailer a DNA signature for his or her inventory. Especially critical in areas of counterfeiting or switched products in the costly area of reverse logistics.
The wire or wafer signature is extremely accurate and reliable. This encoding prevents fraud from customers returning items that they have switched with inferior products or components. The retailer can scan and instantly decipher if the returned item is in fact from their (Retail DNA) inventory.
The RFID Wire Track® technology has performed with 100% reliability during the first 8 months following roll out. Encoding protocols continue to improve so that the entire system will feature extraordinary security for the electronics retailer.