Silicon Valley, CA (PRWEB) October 27, 2010
Corporations can now track the usage and consumption of products in real time by using the patented RFID technology of Grey Rock Innovations (GRI). RFID technology has primarily been used for the tracking of an inventory; GRI has patented RFID use to be used as a mechanism for real time reporting of items in an inventory being consumed on premises.
In many inventory management situations it is desirable to know if the item has been used. Grey Rock Innovations has added the ability to track consumption of an inventory and prevents items from being incorrectly accounted for if they are moved and then returned. For Example, expensive parts and high tech tool usage in manufacturing plants, remote merchandise for sale in hotel rooms or consumable items in hospitals (blood supplies to medical devices). Industries that could benefit from this technology include; the military, financial institutions, hotels, hospitals, assembly plants and more.
RFID technology identifies tagged items through radio communications between an electronic reader and tags containing data on microchips. Grey Rock Innovations’ technology utilizes traditional RFID technology and incorporates a way to disable the device rendering the product or item as being used. Multiple tag usage on an item and any change to the predetermined distance between them could also signal the consumption of the product.
Grey Rock Innovations with the assistance of Intellectual Licensing & Capital Group (http://www.ilgcap.net) are actively seeking licensees and/or technology partners to bring this technology to market. We believe this technology will revolutionize the tracking of consumable products utilizing existing RFID technology.
About ILG: Intellectual Licensing & Capitol Group is a transaction advisory firm specializing in divestitures, acquisitions, business start-ups and mergers where Intellectual Property (IP) is a major component of the transaction.
ILG provides arms-length sell side transaction services to all owners of IP assets. ILG provides arms-length buy side transaction services to a select group of Corporate Clients.
For more information about this patent portfolio or ILG, contact us at http://www.ilgcap.net, or email mike(at)ilgcap(dot)net.