Titanium Group Announces Launch of New Identification Solution
Titanium Group, Ltd., a biometric and security solutions provider announced recently the launch of a new product tailor-made for the high growth retail sector in Hong Kong and China. This new product's purpose is to provide the retail industry a total solution for efficient and secure tracking of high-valued inventories, from the warehouse to the storefront. The solution applies RFID (Radio Frequency Identification) technology to identify the proper location of each of the items and facial recognition technology to ensure the proper identities of the personnel involved in the administration of the supply chain.
Traditional stock control systems, such as barcode and tag label systems are outdated and inadequate for today's market uses. RFID solutions represent a step forward providing accurate and efficient ways to keep track of the inventories. Nevertheless, most other RFID solutions do not take any measures to safeguard the identity of the operators, allowing the system to be vulnerable to theft. Titanium's new solution pinpoints this issue and provides a complete solution for the customers.
In late 2003 the local economy began to recover and the Hong Kong retail sector began a steady growth rate. The growth in recent years has been even stronger. In the first eight months of 2007, retail sales value grew 10.6%. Among the retail sectors, luxury items realized one of the fastest growths of 20.2% in the same period.