Converting losses into profits

Intelligent store networks attack shrink at the point of the problem


When a network is configured to deliver real-time solutions, and does so while managing itself, store personnel can spend more time running the store and less time attending to burdensome tasks associated with loss prevention. Networks not only gives store management and local LP staff better support, but system wide monitoring and reporting also keeps headquarters apprised of individual theft events, LP trends and important store-level operations intelligence. They also dramatically reduce system downtimes by providing remote system monitoring and greatly accelerated maintenance operations.

Soon, the market should see one cohesive system including applications for shoplifting prevention, sweet hearting, bottom-of-the basket losses and even shopping cart theft all built on one self-managing store network. [RM1]

In these times, executives should consider bolstering their loss prevention budgets and investing in networked technologies because they are delivering payback in a matter of months. The bottom line is that losses can be turned into profits today, and the trend can be made permanent, to vastly improve an organization's chances for greater financial success.

About the author: John French is founder and president of San Diego-based Carttronics, a leading innovator in the area of networked retail loss prevention solutions.