Manual controls, paper trails and management authorisations, protect retailers from shrinkage but businesses are recognising the financial and operational benefits of automated systems. Now, to cut shrinkage even more, ADT Security present Sensormatic Analytics advanced business intelligence solutions.
Loss prevention technologies such as EAS and CCTV have proven effective in delivering a positive return on investment in retailer’s shrink reduction efforts. Many loss prevention tools have offered retailers comprehensive store intelligence platforms with the means to measure their performance objective, manage their store operations and improve their profitability and performance.
In addition to shrinkage, retailers and their Loss Prevention (LP) departments must also look at broader means to curb inventory loss, which includes any inappropriate or unnecessary actions that reduce the value of inventory.
ADT Security’s Sensormatic Smart Electronic Article Surveillance (EAS) system alerts the retailers about the potential shrink opportunities and the need to take action. With store intelligence solutions, the cost, time and personnel necessary to identify and resolve a situation is greatly reduced.
Store business intelligence provides LP with Sales Reducing Activities (SRAs) data, which allows LP departments to pinpoint the store, cashier and even the transactions and items being returned that have contributed to the results. Comparing all of the stores or all of the cashiers will quickly identify the best and worst performers with respect to any one of the SRAs.
The value of store business intelligence is the driving force behind the development of Sensormatic Analytics, a comprehensive suite of store business intelligence solutions.Powered by Retail Expert, Sensormatic Analytics supplied by ADT Security, can help fully to re-engineer a Loss Prevention department and transform it into an invaluable part of a company’s drive for profits.
Sensormatic Analytics analyse vast amounts of data from various sources into concise actionable intelligence through exception reporting. Using Key Performance Indicators (KPIs), information can be sorted, filtered, ranked and scored providing quick and easy identification of critical areas of operations that require attention and improvement.
By combining the preventative exception reporting and alerts found in Sensormatic Analytics with the in-store technology and procedural methods used by Loss Prevention, the potential exposure that is created by the introduction of high risk complex business processes is virtually eliminated.
According to Assistant Vice President of Store Operations at TJ Maxx and Marshalls, Key Performance Indicators have become part of the key operating fabrics in their stores.
According to Phil Brown, ADT Security’s National Retail Manager customers in the US have been able to improve their performance with some impressive returns on investment. A large number have also experienced benefits beyond loss prevention, such as being able to access intelligence information that was unavailable or inconvenient to access in the past.