Shrink management as a service: Delivered to you by Tyco and GoogleBY Australian Retailers Association
Tyco Retail Solutions has partnered with Google to offer SMaaS (Shrink Management as a Service), a new predictive analytics service that uses leading edge technology through the Google Cloud Platform. The service is an integration of electronic article surveillance (EAS) and device management with predictive analytics. The platform identifies the root cause of shrink and offers actionable insights to help retailers pinpoint where inventory shrink is happening, or likely to happen, within their business.
Today’s bricks-and-mortar retailers face a surfeit of challenges. Minimising shrink, increasing conversion rates, optimising inventory and driving staff productivity are all critical in boosting store performance. SMaaS features an intuitive, easy-to-navigate dashboard that helps retailers to make sense of the data, allowing them to identify and rectify problems early on.
The dashboard can be tailored to suit different user preferences and store needs. Data can also be viewed by district, region or business enterprise so management can isolate information and make informed, data-driven decisions to help them better manage their retail operations, including inventory loss.
The shrink management service presents detailed information about region, country, state, division, and store for a selected time period. From this, users can see if alarms are trending up or down, along with the total potential dollar loss value that the alarms represent. Equipment uptime percentage is also shown.
Other high-level intelligence includes an overall view of the alarm rates and types of alarms occurring, broken down by hour and when they were deactivated. The system also shows predictive store traffic and shares a potential loss map to provide an overview from a geographical perspective. SMaaS additionally features an organised retail crime map to gain awareness of issues in a specific area.
All connected devices and EAS equipment are monitored by Tyco Retail Solutions’ dedicated, remote diagnostic specialists 24 hours a day, 365 days a year to ensure that systems are on-line and functioning properly at all times. This automated and transparent process reduces time spent on equipment issues and allows for a much quicker response and faster issues resolution.
Users of will receive email notifications if activity surpasses a pre-determined threshold, to flag when an exception has occurred. These invaluable insights into their business help retailers to operate more strategically instead of relying on a reactive approach to loss prevention.
Tyco Retail Solutions, is a provider of retail Loss Prevention, Inventory and Traffic solutions and delivers real-time visibility and predictive analytics to help maximise business outcomes in today’s digitally driven shopping world. For more information, visit TycoRetailSolutions.com.au
ABOUT THE AUTHOR
Australian Retailers Association
Founded in 1903, the Australian Retailers Association (ARA) is Australia’s largest retail association representing Australia’s $310 billion sector, which employs more than 1.2 million people. As the retail industry’s peak representative body, the ARA works to ensure retail success by informing, protecting, advocating, educating and saving money for its 7,500 independent and national retail members throughout Australia. For more information, visit www.retail.org.au or call 1300 368 041.