Sensormatic Solutions Expands Shrink Analyzer, Introduces New ML Applications That Can Help Uncover ‘What, When and Where’ of Total Retail Loss
- New intelligent analytics capabilities can help retailers quantify and plan for shrink, loss and ORC to help preserve bottom lines and customer experiences
- Track and Trace can use store and source data to help identify stolen merchandise and unauthorized resales, create evidence trails and highlight ORC patterns
- At-Risk Merchandise Forecast and ORC Activity Predictions can analyze theft and traffic patterns to help predict what items and categories are most likely to be stolen and when theft may occur, respectively
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“Shrink Analyzer was developed with a clear vision: to help retailers quantify total shrink, identify and address risk, and understand the potential impact of ORC,” said Tony D’Onofrio, president of Sensormatic Solutions. “This is an application that can grow alongside retailers’ needs, offering progressive intelligence, automation and hardware capabilities, plus the flexibility to upgrade and add new features over time. Every enhancement is designed to support retailers in navigating evolving threats and technology, helping empower retailers to make data-driven decisions and reduce uncertainty in loss prevention.”
The new ML tools in Shrink Analyzer are designed to work together to help provide the ‘what, when and where’ of total retail loss, enabling retailers to quantify impact, build understanding and plan with greater precision:
- Track and Trace can help address one of retailers’ most persistent challenges: ORC commerce channels for illegally sourced merchandise. The application layers ML technology on top of item-level merchandise data, point-of-origin sources, point-of-sale logs, electronic product code (EPC) records and beyond-the-store environmental insights to support proactive investigations, help accelerate stolen-item identification in authorized resales, and assist with compiling complete evidence packages.
- At-Risk Merchandise Forecast uncovers the “what,” by identifying how likely specific merchandise is estimated to be stolen. The investigator dashboard can show the top items at risk, estimated shrink value, and which categories are at higher risk. The feature also can provide shrink history as well as a weekly trend analysis.
- ORC Activity Predictions is designed to predict “when” organized theft events may be planned, including the time slots with the highest chances that ORC may happen, leveraging trends across sites, regions and territories. This tool can empower retailers to tailor staffing, inventory, layout, and other areas of operations to deter theft during peak times.
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Source: Sensormatic Solutions