US RFID software developer Truecount Corporation and Swiss EAS and EM systems developer Tagit have announced their partnership to launch a new solution for retailers which enables them to track all inventory from source to destination in real time via RFID redundantly backed up by EAS. The Truecount/Tagit-EAS system combines the advantages of both technologies to identify counterfeit items and prevent fraudulent returns.
“The Truecount/Tagit-EAS technology makes it simple for retailers to accurately manage inventory and aggressively fight retail crime at the same time,” says Zander Livingston, CEO, Truecount. “Everything is in one label, so no extra work or hardware is required.”
“Globally, theft cost the retail industry $119 billion in 2011,” says Nolan Wheeler, CEO, Tagit. “Criminal activity, from employee theft to organized crime rings, accounts for 80% of retail loss. By combing Truecount’s near perfect inventory tracking and loss intelligence capture with our powerful electro-magnetic (EM) EAS technology, we bring to retail a new world of article surveillance and inventory management.”
Wheeler points out that with retail loss on the rise in each of the four major areas—shoplifting/ORC, employee theft, internal errors and supply chain mistakes—Truecount and Tagit are wrapping a 360-degree security “lock” around merchandise items to jointly attack and reduce every area of shrink.
Livingston adds that while both RFID and EM are exceptionally effective independently, when combined, each technology becomes more powerful. “The result is a system that is, to date, the toughest and most sophisticated in the world for shrink control. We anticipate substantial, if not unprecedented, reductions in loss for retailers and their supply chains,” he says.