New Analytics, Retail Operation Services Reduce Theft, Improve Store Performance
Source: Innovative Retail Technologies
Boca Raton, Fla. — June 2, 2009 — ADT announced today that leading U.S. retail chains such as Follett Higher Education university bookstores and Gordmans department stores are reducing theft and improving operational efficiency with the help of the Sensormatic Analytics NaviStor business intelligence platform and accompanying retail operation services.
Since deploying NaviStor exception reporting capabilities, Follett Higher Education, the largest college bookstore retailer in North America, increased its exception detection rate by 87 percent and saw a 46 percent decrease in the number of dishonest associate cases. With the additional support of Sensormatic Analytics retail operation services, Follett improved its key performance indicators and strengthened its exception reporting approaches with dashboard customization.
"Our largest growth has occurred over the last 20 years resulting in over 800 stores and high volume e-sales," said Tom Provost, sr. manager loss prevention, Follett. "In terms of loss prevention resources we are spread very thin to deliver bottom line shrink numbers. Retail operation services coupled with a solution like NaviStor, with investigative capabilities for identifying fraud, provided an optimum return on investment (ROI) without having full-time dedicated resources found in larger retail operations. Now we can identify fraud and in turn create meaningful exception reports. Our investment has more than paid for itself."
The retail operation services team consults with retailers to help develop an effective exception reporting program in order to expedite and maximize ROI. Services include:
Gordmans, a U.S. chain of 65 department stores in 16 states, has also gained the benefits of NaviStor and its associated retail operation services. To assist Gordmans, the team conducted proficiency training on the chain's NaviStor POS exception reporting module.
"To help us interpret data from a statistical perspective to create more useful and meaningful exception reports and scorecards, the retail operation services team performed valuable refresher and proficiency training for our asset protection corporate users as well as asset protection district managers and market managers," said Jeff Hunter, manager of investigations for Gordmans.
"Their efforts resulted in educating our group in documenting areas of exposure and following up on identified suspect activity to produce more actionable data to achieve operational improvements. Through their on-site training on data analysis, exception reports and scorecards, we are able to better analyze our own data, make better decisions on what and how much information to look at and ultimately how to measure and score the information to make it even more meaningful across the organization."
By combining good data with intelligent reporting, the Sensormatic Analytics platform from ADT along with its associated retail operation services provide improved analysis and metrics assessment to generate more productive reports from retail data. "Our retail customers gain a tremendous advantage in tapping the analytical skills of the team," said Jeff Bean, vice president, retail sales and operations, ADT. "Our retail operation services experts can maximize the capabilities of our store business intelligence technologies to create effective reporting to help drive operational efficiency and profitability for retailers today — at a critical time when they need immediate results to be better positioned for future growth."
About ADT Security Services
ADT Security Services, a unit of Tyco International, is the world's largest provider of electronic security services to more than seven million commercial, government and residential customers worldwide. ADT's total security solutions include intrusion, fire protection, closed circuit television, access control, critical condition monitoring, electronic article surveillance, radio frequency identification (RFID) and integrated systems. ADT's website address is http://www.adt.com.
About the Sensormatic Retail Solutions Portfolio
The industry-leading Sensormatic Retail Solutions portfolio offers vital loss prevention and operational improvement technologies and solutions. Backed by more than 1,500 patents, the Sensormatic solutions portfolio is sold through ADT and Tyco partners around the world. From the front of the store through the entire retail supply chain, Sensormatic solutions help keep losses lower — and profits higher. Today, over 84 percent of world's top 200 retailers that use EAS rely on Sensormatic solutions, which include EAS, source-tagging, data analytics and in-store, item-level intelligence applications. Sensormatic forward-thinking solutions also include dual EAS-RFID technology that provides item-level security and visibility in an ever changing retail environment. For more information, please visit http://www.sensormatic.com.
Since deploying NaviStor exception reporting capabilities, Follett Higher Education, the largest college bookstore retailer in North America, increased its exception detection rate by 87 percent and saw a 46 percent decrease in the number of dishonest associate cases. With the additional support of Sensormatic Analytics retail operation services, Follett improved its key performance indicators and strengthened its exception reporting approaches with dashboard customization.
"Our largest growth has occurred over the last 20 years resulting in over 800 stores and high volume e-sales," said Tom Provost, sr. manager loss prevention, Follett. "In terms of loss prevention resources we are spread very thin to deliver bottom line shrink numbers. Retail operation services coupled with a solution like NaviStor, with investigative capabilities for identifying fraud, provided an optimum return on investment (ROI) without having full-time dedicated resources found in larger retail operations. Now we can identify fraud and in turn create meaningful exception reports. Our investment has more than paid for itself."
The retail operation services team consults with retailers to help develop an effective exception reporting program in order to expedite and maximize ROI. Services include:
- Proficiency training on understanding and using data
- Data analysis
- Program assessment designed around the use of the profit navigation systems
- Consulting related to physical inventory preparation, execution and shrink analysis
- Evaluation of general loss prevention procedures and programs
- System administration
Gordmans, a U.S. chain of 65 department stores in 16 states, has also gained the benefits of NaviStor and its associated retail operation services. To assist Gordmans, the team conducted proficiency training on the chain's NaviStor POS exception reporting module.
"To help us interpret data from a statistical perspective to create more useful and meaningful exception reports and scorecards, the retail operation services team performed valuable refresher and proficiency training for our asset protection corporate users as well as asset protection district managers and market managers," said Jeff Hunter, manager of investigations for Gordmans.
"Their efforts resulted in educating our group in documenting areas of exposure and following up on identified suspect activity to produce more actionable data to achieve operational improvements. Through their on-site training on data analysis, exception reports and scorecards, we are able to better analyze our own data, make better decisions on what and how much information to look at and ultimately how to measure and score the information to make it even more meaningful across the organization."
By combining good data with intelligent reporting, the Sensormatic Analytics platform from ADT along with its associated retail operation services provide improved analysis and metrics assessment to generate more productive reports from retail data. "Our retail customers gain a tremendous advantage in tapping the analytical skills of the team," said Jeff Bean, vice president, retail sales and operations, ADT. "Our retail operation services experts can maximize the capabilities of our store business intelligence technologies to create effective reporting to help drive operational efficiency and profitability for retailers today — at a critical time when they need immediate results to be better positioned for future growth."
About ADT Security Services
ADT Security Services, a unit of Tyco International, is the world's largest provider of electronic security services to more than seven million commercial, government and residential customers worldwide. ADT's total security solutions include intrusion, fire protection, closed circuit television, access control, critical condition monitoring, electronic article surveillance, radio frequency identification (RFID) and integrated systems. ADT's website address is http://www.adt.com.
About the Sensormatic Retail Solutions Portfolio
The industry-leading Sensormatic Retail Solutions portfolio offers vital loss prevention and operational improvement technologies and solutions. Backed by more than 1,500 patents, the Sensormatic solutions portfolio is sold through ADT and Tyco partners around the world. From the front of the store through the entire retail supply chain, Sensormatic solutions help keep losses lower — and profits higher. Today, over 84 percent of world's top 200 retailers that use EAS rely on Sensormatic solutions, which include EAS, source-tagging, data analytics and in-store, item-level intelligence applications. Sensormatic forward-thinking solutions also include dual EAS-RFID technology that provides item-level security and visibility in an ever changing retail environment. For more information, please visit http://www.sensormatic.com.
This website uses cookies to ensure you get the best experience on our website. Learn more