Chow Tai Fook Jewellery Group Limited ("Chow Tai Fook" or the "Company"; collectively with its subsidiaries, the "Group", HKEx stock code: 1929) a world leading jeweller with 85 years' heritage, is pleased to announce that the "ICS RFID-technology Deployment" (IRD) project developed by the Group has recently clinched several highly regarded industry accolades in recognition of its outstanding achievement in the application and implementation of RFID technology. These coveted accolades are the highest in their respective categories, including:
Asia Pacific Information and Communications Technology Alliance Awards 2014
- Retail and Supply Chain Management – Winner Award
Hong Kong Internet of Things Awards 2014
- RFID Implementation Excellence – Gold Award
- RFID Application Innovation – Gold Award
Guangdong – Hong Kong IoT Awards 2014
- Best IoT Applications Award
Chow Tai Fook's award-winning IRD project successfully integrates RFID and IoT technologies with the "Inventory Control System" (ICS) that the Group developed for comprehensive application to the jewellery logistic and retail chains through the use of smart devices that are also RFID-enabled and IoT-based, including RFID tag, Logistic Tray, mHand and Smart Tray. Being awarded by leading professional bodies in the field of information and communications technology, namely Asia Pacific Information and Communications Technology Alliance, GS1 Hong Kong and Guangdong – Hong Kong RFID Technology Service Centre, is truly a testimony of the Group's capability of and strength in unlocking the benefits of innovative technology.
Kent Wong, Chow Tai Fook Managing Director said, "Chow Tai Fook has long been in the forefront of developing innovative technologies and applying them in our operations. It takes both commitment and persistence. The Group believes that investment in innovative technologies is an integral part of our development strategy and their viable applications are of utmost importance to facilitating operational enhancement, supporting business growth and achieving sustainable development. The award-winning IRD project, integrating RFID technology with IoT platform for applying to the workflows of both logistic and retail chains and in particular all the way to shop level is an innovative idea in the jewellery industry. It can not only improve day-to-day work performance but also generate big data analytics for understanding customers and formulating business strategies."
Chow Tai Fook reckons that RFID, although not a new technology, is the most suitable for performing multiple functions to meet diverse needs and various objectives. "The award-winning IRD project covers three very significant aspects in retailing – logistic management, stock taking and control, and sales operations – and provides one-stop solution to enhancing operational efficiency and work accuracy on the one hand while collecting big data for business analysis and decision making on the other. It is the first ever comprehensive approach," said Patrick Tsang, Deputy General Manager of Corporate Planning and Head of MIS Department.
According to Tsang, the biggest challenge of this project is to solve a basket of technical problems that are related to RFID signal reception. Basically, metal affects RFID signal reception, small RFID tags are difficult to sensor, and products closely placed also affect reading results. All these limitations apply as jewellery pieces are usually small in size, so are the price tags, and they are mostly placed side by side in the display counters or in stacks in the warehouse. Success finally came after numerous attempts and repetitive researches and trials.
The Group started using information and communications technologies as early as the 80s'. More than a decade ago, it has also pioneered to develop web-based and real time operation systems, namely Raw Materials Control System, Order & Production System and ICS that is capable to work on item level, based on internet and private network computing (now known as "Private Cloud") technologies, in order to build the "Enterprise Resources Planning" function in support of the Group's growing operations as business continued to expand. The IRD project is another big leap forward as a result of Chow Tai Fook's relentless effort in developing and applying new technologies.
About the awards
APICTA Awards
APICTA Awards is an annual flagship event in the information technology and communications field of the Asia Pacific region. Already in its fourteen years, the award is organized by Asia Pacific Information and Communications Alliance. (http://apicta.org)
Hong Kong IoT Awards
Formerly known as the Hong Kong RFID Awards, the Hong Kong IoT Awards is organised by GS1 Hong Kong, a local chapter of the Belgium-based not-for-profit global supply chain standards organisation GS1. The award programme aims to showcase innovation in the field and recognise pioneering enterprises.
Guangdong – Hong Kong IoT Awards
The awards programme is co-organised by GS1 Hong Kong and Guangdong – Hong Kong RFID Technology Service Centre to recognise outstanding IoT projects from corporations in Guangdong and Hong Kong regions.