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 of dollars 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.