Downward pressure on sales doesn’t have to equate to a fall in profits. In a depressed economic environment, retailers should concentrate on what they can control: reducing costs.
One area of opportunity is loss prevention. Here are some statistics about the cost of theft and inventory mishaps:
Can your business afford to accept large losses like these?
Flooid, Intel and the Open Retail Initiative recently collaborated on a loss prevention tool for self-service checkouts.
Using EdgeX middleware, data was captured and shared from different systems including cameras, weighing scales and RFID tags. A proof of concept was delivered in weeks, giving retailers physical proof there was a route to millions in savings through effective loss prevention technique.
Download our whitepaper to find out more about how Flooid, Intel and the ORI are helping retailers cut costs.