Sensormatic Solutions Showcases Its Cloud-Based SaaS Shrink Analyzer Application to Combat Shrinkage as a Result of ORC at 2024 NRF Big Show
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The integration of RFID technology in Sensormatic Solutions' new Shrink Analyzer application represents a significant advancement in the retail sector. By leveraging cloud-based SaaS platforms, retailers can now access real-time inventory data, which is critical in minimizing shrinkage—a term that refers to the loss of inventory due to theft, error, fraud, or damage. The ability to track items individually through RFID tags not only enhances loss prevention strategies but also optimizes inventory management, leading to reduced out-of-stock scenarios.
From an operational perspective, the use of advanced data engines and visualization tools allows for more sophisticated analysis and decision-making. Retailers can identify patterns and trends in inventory movement, which can inform purchasing decisions and floor layout optimizations. This technology can potentially lead to improved profit margins by reducing unnecessary inventory holding costs and increasing sales through better stock availability.
Johnson Controls' emphasis on innovation within its Sensormatic Solutions portfolio aligns with current market demands for advanced retail analytics. The retail industry is increasingly competitive and businesses are seeking solutions that offer a tangible return on investment. By providing a tool that addresses multiple facets of retail operations, Sensormatic Solutions is positioning itself as a key player in the loss prevention market.
Analyzing the potential market impact, the Shrink Analyzer application could see significant adoption among retailers looking to enhance their loss prevention programs. The retail sector's growing focus on data-driven strategies suggests a favorable market reception and potential growth in Sensormatic's customer base, which could positively influence Johnson Controls' stock performance in the long-term.
The announcement of Sensormatic Solutions' Shrink Analyzer application could have implications for Johnson Controls' financial performance. By addressing key retailer pain points, such as shrinkage and stockouts, Sensormatic is tapping into a critical revenue stream within the retail industry. The adoption of such technologies can lead to improved efficiency and cost savings for retailers, which may translate into increased sales and recurring revenue for Sensormatic through subscriptions and service fees.
Investors should monitor the uptake of the Shrink Analyzer application and its impact on Sensormatic's market share. The long-term financial benefits will depend on the application's scalability and the ability to maintain a competitive edge in a rapidly evolving technology landscape. If successful, it could contribute to Johnson Controls' overall growth trajectory and strengthen its position in the retail solutions market.
- The brand’s new solution aggregates RFID technology using an advanced data engine and visualization tool to enable retailers to experience smarter loss prevention
- Sensormatic Solutions full portfolio, including the Shrink Analyzer application, is on display at the 2024 NRF Big Show
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“Shrink Analyzer highlights the ‘what,’ ‘where’ and ‘when’ of loss events, allowing users to take a proactive approach in the battle against organized retail crime (ORC), fraud, and other drivers of shrink,” said Craig Szklany, vice president and product general manager of loss prevention and liability at Sensormatic Solutions. “This tool ushers in a new era of shrink visibility, using radio frequency identification (RFID) technology and exception-based exit monitoring, to provide retailers with never-before-seen insights into their operations.”
Shrink Analyzer serves as the advanced data engine for a connected LP eco-system, ingesting, aggregating and analyzing item-level inventory and data from Sensormatic RFID exits to provide a clear line of sight to losses in stores. The solution’s leading-edge analytics capabilities help retailers combat rising theft, empowering LP teams with clear evidence packages to improve prosecution efforts. Shrink Analyzer shows retailers the true financial impact of theft, fraud, and other drivers of loss, helping prioritize their responses by focusing on strategies that have an immediate impact. Sensormatic Solutions newest LP application uses RFID technology, cloud-based analytics and electronic product code (EPC) data to:
- Highlight at-risk items and ORC activity. Shrink Analyzer’s analytics help LP teams differentiate between ORC, bulk and incidental theft events, providing insights into shrink anomalies and evolving patterns or trends.
- Pinpoint vulnerable areas and displays. Shrink Analyzer synthesizes data from throughout store systems to provide item-level reports including video evidence on when and where RFID tagged merchandise goes missing. This data helps alert LP teams to gaps in security that may leave merchandise exposed.
- Increase asset protection team productivity. Shrink Analyzer is designed for use by retailers’ investigative teams to help easily and quickly bundle digital evidence of theft events for use in potential prosecution against ORC groups.
- Optimize other areas of operations. By combining EPC exit data with other retail systems sources, Shrink Analyzer’s analytics capabilities help reduce out-of-stocks and drive replenishment. The solution also supports data exports to third-party case management systems to improve workflow efficiency.
To learn more about the ways Shrink Analyzer can provide retailers with better visibility amid rising ORC, visit Sensormatic Solutions online or meet us at booth #4865, Jan. 14-16, 2024, at the Jacob K. Javits Center for NRF 2024. To request a booth tour or a meeting with an account manager, visit the Sensormatic Solutions scheduling page. Please also follow #SensormaticNRF2024 on X and LinkedIn.
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About Johnson Controls:
At Johnson Controls (NYSE:JCI), we transform the environments where people live, work, learn and play. As the global leader in smart, healthy and sustainable buildings, our mission is to reimagine the performance of buildings to serve people, places and the planet.
Building on a proud history of nearly 140 years of innovation, we deliver the blueprint of the future for industries such as healthcare, schools, data centers, airports, stadiums, manufacturing and beyond through OpenBlue, our comprehensive digital offering.
Today, with a global team of 100,000 experts in more than 150 countries, Johnson Controls offers the world`s largest portfolio of building technology and software as well as service solutions from some of the most trusted names in the industry.
Visit www.johnsoncontrols.com for more information and follow @Johnson Controls on social platforms.
About Sensormatic Solutions:
Sensormatic Solutions is the leading global retail solutions portfolio of Johnson Controls powering operational excellence at scale and enabling smart and connected shopper engagement. Our intelligent digital operating platform – Sensormatic IQ – combines the full Sensormatic Solutions portfolio, including third-party data to deliver unmatched insights into shopper experience, inventory intelligence, loss prevention and operational effectiveness with advanced technologies, like AI and Machine Learning. This enables retailers to act on prescriptive and predictive data-driven outcomes to confidently move into the future. Please visit Sensormatic Solutions or follow us on LinkedIn, X, and our YouTube channel.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240111267605/en/
Media:
Jaclyn Messina
Sensormatic Solutions by Johnson Controls
Direct: +1 561-235-6458
Email: jaclyn.messina@jci.com
Grace Torrance
Matter on behalf of Sensormatic Solutions
Direct: +1-978-518-4504
Email: jciretail@matternow.com
Source: Sensormatic Solutions
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