Skip to main content

Loss Prevention

Loss Prevention Overview

Beyond saving money, addressing losses can have unforeseen benefits for retail businesses. The inventory shrink costed the US retail industry $61.7 billion. To strengthen their active loss prevention efforts retailers must get to the bottom of existing shrinkage sources as inventory touch-points proliferate at breakneck speed. This will assist them in tightening their control over assets at an item-level scope, creating opportunities to unlock baked-in losses.

Loss Prevention Capabilities

What to expect

  • Identify loss trends of Products
  • Generate store loss ranking
  • Report high loss products
  • Identify vendors with loss-making products
  • Identify loss invoking processes

What you can achieve

Strategize Product Assortment & Pricing
Strategize Product Assortment & Pricing

Loss prevention analytics provide insights into products that account for high losses. It helps you to optimize your product assortment to minimize your losses. Moreover, you can also make informed decisions on whether to raise or drop the price of a certain product.

Optimize Store Operations
Optimize Store Operations

It helps you to identify & re-engineer high loss invoking processes like product markdowns, customer guarantees, staff discounts, and customer compensation. You can identify vendors delivering products that are prone to large losses and work with them to minimize the losses.

Store Benchmarking
Store Benchmarking

It helps you to establish and track loss targets and objectives for stores and associates. Loss ranking can provide you insight into the individual performance of the stores. You can also identify the root causes of main loss drivers and develop mitigating actions.

Related offerings

Affinity/Market Basket Analysis

Understanding customer purchasing patterns through analysis of how products are purchased together

Labor Optimization

Labor productivity analytics focusedd on optimizing labor allocation to meet customer service levels

Market/Competitor Intelligence

Insights on market product and customer trends and how Ingles is performing compared to the industry

Supplier Management Scorecard

Consolidated holistic view to supplier performance, including metrics on vendor fulfillment performance, sales, profitability, inventory performance and product quality issues

Price Optimization Solution

A comprehensive solution that leverages pricing strategies, rules and statistical modeling to recommend optimal regular prices

Loss Prevention

Systematic insights that highlight loss trends and patterns and identify processes, products, vendors and associates that result in high losses

Assortment Optimization

Insights into assortment gaps (both across products and across stores), underperforming products and underserved customer needs.

Crisis Command Center

Navigate the business impact of any crisis with proactive response strategies to key risks related to Supply Chain, Sales, Finance and Workforce

Intelligent Customer Insights

Increase customer loyalty, minimize customer churn and drive more value from existing relationships

Intelligent Workforce Insights

Data driven actionable insights on workforce composition, recruiting, retention, diversity, turnover and Workforce ROI

Got Questions?
Get in Touch with our Experts.

About

We are professional and reliable provider since we offer customers the most powerful and beautiful themes. Besides, we always catch the latest technology and adapt to follow world’s new trends to deliver the best themes to the market.