HADERA, Israel -- Malers Automation and Control Ltd. ("Malers"), announced that the Company is in the final stages of development of a radio frequency identification (RFID) system that can be used by medium to large size warehouses to safeguard inventory.
The equipment rental markets suffer greatly from inventory shrinkage, particularly from theft and poor management of the inventory. To date, there are no real-time tracking systems in these medium to large warehouses that can pinpoint the exact location of a specific item. As a result, orders prepared for clients can include additional items that were not ordered and not identified as leaving the warehouse. Of course, upon return of the rental equipment, these extra items are not included. Their loss, or disappearance, may not be noticed until the end of year inventory count.
"Our RFID system offers a much needed breath of new life for the warehouse management market," says Ronen Luzon, CEO of Malers. "We offer true real-time management of inventory across even several warehouses. With the RFID system we have developed, warehouse managers can virtually put an end to inventory shrinkage, saving them hundreds of thousands to millions of dollars every year."
Malers' RFID system includes the management software, a set of antennas that are located throughout the warehouses and passive RFID tags that are attached to the items. An average warehouse system will sell for approximately $20,000. The system confirms that items ordered are, in fact, passed on to the customer and then returned. In addition, items can be easily located within the warehouse and special notifications are made when items are not in their proper locations. The RFID system is Web-based, so it can be connected to existing intranet systems and the users can log on from anywhere to view the status of the inventory.
The Company plans to complete development within the next two to three months, including a pilot test project. In parallel, Malers is targeting vertical markets that are in need of the RFID system, so that the Company can launch its marketing efforts soon after completion of the development process.
"We are very optimistic about the global market opportunities for our RFID system," notes Luzon. "We have already identified a solid need in the scuba diving, furniture and events rental markets, and this is just a beginning."
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