登录查看更多内容

How can you integrate shrinkage technology with existing retail systems?

由人工智能和领英社区提供技术支持

Shrinkage is the loss of inventory due to theft, damage, or error in retail operations. It can have a significant impact on your profitability and customer satisfaction. To reduce shrinkage, you need to integrate technology that can monitor, prevent, and report inventory discrepancies. In this article, you will learn how to integrate shrinkage technology with your existing retail systems, such as point-of-sale (POS), inventory management, and security.

此文章中的业界达人

由社区从 4 条内容中精选。了解更多

Larry Miller

Profit Improvement Advisor | Trainer: Shrink Control, Profit Improvement

1 What is shrinkage technology?

Shrinkage technology is any tool or device that helps you track, control, and optimize your inventory levels and movements. It can include hardware, such as sensors, tags, cameras, and alarms, or software, such as analytics, dashboards, and alerts. Shrinkage technology can help you identify the sources and causes of shrinkage, such as shoplifting, employee theft, vendor fraud, or administrative errors. It can also help you prevent or reduce shrinkage, by deterring or detecting theft, improving inventory accuracy, and enhancing security.

添加您的观点

Larry Miller

Profit Improvement Advisor | Trainer: Shrink Control, Profit Improvement
举报内容
I have studied the causes and cures of shrink loss for over 30 years and worked with literally hundreds of companies, written 2 books, penned 12 white papers and presented at dozens of retailer conferences. Let me start my comment by stressing that thinking of shrinkage technology must not be linier. I believe the best technology is the combination of analytics and how people actually, consistently and purposefully use the analytics. Technology and Analytics are pervasive, and in many cases fragment focus. "More is not better". Combined as a Strategic Objective form the basis of People First approach. So, "what is shrinkage technology"? The best Strategy is Technology + People for specific outcomes.

已翻译

赞

2 How to integrate shrinkage technology with POS systems?

POS systems are the devices and software that you use to process transactions, record sales, and manage payments. They are essential for your retail operations, as they capture data on your revenue, customer behavior, and inventory status. To integrate shrinkage technology with your POS systems, you need to ensure that they can communicate and exchange data seamlessly. For example, you can use radio-frequency identification (RFID) tags and readers to scan and update inventory information automatically at the POS. You can also use POS software that can generate reports and alerts on inventory discrepancies, sales trends, and shrinkage patterns.

添加您的观点

Larry Miller

Profit Improvement Advisor | Trainer: Shrink Control, Profit Improvement
举报内容
My team and I created one of the first shrink prevention systems for retail using POS systems data. I installed my system in over 400 companies, operating nearly 9,000 stores in 5 countries. The technology worked. The pipeline to shrink reduction was always clogged with human inefficiencies. We were able to conquer this with persistent training for implementation effectiveness. POS systems typically present data and talking about 'data insights'. This means 'we will show your data grids/reports' and maybe graphs that drill to data grids/reports for you to figure out data causation and cures. An integrated inventory management system is very helpful but must be purpose-build to achieve specific outcomes.

已翻译

赞

3 How to integrate shrinkage technology with inventory management systems?

Inventory management systems are the tools and processes that you use to plan, organize, and control your inventory. They help you optimize your inventory levels, reduce costs, and increase efficiency. To integrate shrinkage technology with your inventory management systems, you need to ensure that they can provide accurate and real-time data on your inventory status and movements. For example, you can use barcode scanners and mobile devices to scan and update inventory data quickly and easily. You can also use inventory management software that can analyze and optimize your inventory performance, such as forecasting demand, replenishing stock, and identifying anomalies.

添加您的观点

Larry Miller

Profit Improvement Advisor | Trainer: Shrink Control, Profit Improvement
举报内容
Inventory Management or better yet Inventory Optimization, is a Strategic Imperative that every company; retail, manufacturing, supermarket, or fashion must recognize as at the heart of Sales & Profit optimization. "If it isn't selling it's shrinking". "If it isn't selling" In many cases it will be get marked down. "If it isn't selling" it's being double or triple handled causes labor shrink. "If it isn't selling" it's definitely costing inventory carry costs. All of this impact your P&L in negative ways. Whole Store Profit Optimization demands whole store inventory optimization for optimal Variety and Turns. This is an Enterprise issue and should be addressed at the Enterprise level to avoid departmental isolationism.

已翻译

赞

4 How to integrate shrinkage technology with security systems?

Security systems are the measures and equipment that you use to protect your store, staff, and customers from theft, vandalism, or violence. They help you deter, detect, and respond to security threats and incidents. To integrate shrinkage technology with your security systems, you need to ensure that they can work together to enhance your store security and safety. For example, you can use video surveillance and facial recognition to monitor and identify suspicious activities or individuals. You can also use electronic article surveillance (EAS) and acoustic-magnetic (AM) systems to trigger alarms or notifications when tagged items are removed from the store without authorization.

添加您的观点

Larry Miller

Profit Improvement Advisor | Trainer: Shrink Control, Profit Improvement
举报内容
I suspect we all know that there is Internal and External Shrink. External has been in the news but Internal shrink loss is where we need to dedicate resources to 'controlling the controllable' of our business. Another way of looking at this is 'you can't catch your way to lower shrink'. This is why I teach companies to focus on process and practices to preempt Internal Profit Erosion. Simplistically, Security systems stop or catch wrongdoers. This is certainly important, but in today's whacky world, catching people can cause a dangerous or litigious situation. Rather, I prefer Strategic Thinking and a fresh Tactical approach to integrated systems that Operationalize people.

已翻译

赞

5 What are the benefits of integrating shrinkage technology with existing retail systems?

Integrating shrinkage technology with your existing retail systems can provide several advantages to your retail operations. It can reduce shrinkage and increase profitability by preventing or minimizing the loss of inventory due to theft, damage, or error. It can also improve inventory accuracy and visibility, allowing you to track and update data more accurately and efficiently. Moreover, it can enhance customer satisfaction and loyalty by offering a better shopping experience and service, which can lead to more customers, increased sales and revenue, and a stronger brand reputation.

添加您的观点

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

添加您的观点

Retail Operations

+ 关注

给文章评分

我们借助人工智能创建了此文章。您认为这篇文章怎么样？

很棒不太好

举报此文章

查看全部

How can you integrate shrinkage technology with existing retail systems?

1

2

3

4

5

6

1 What is shrinkage technology?

2 How to integrate shrinkage technology with POS systems?

3 How to integrate shrinkage technology with inventory management systems?

4 How to integrate shrinkage technology with security systems?

5 What are the benefits of integrating shrinkage technology with existing retail systems?

6 Here’s what else to consider

Retail Operations

给文章评分

感谢您的反馈

更多Retail Operations相关文章

更多相关阅读内容