The media has been full of reports that COVID has been driving us more quickly towards a cashless society. However, the reality is different.
The pandemic has proven the indispensable nature of effective business tools that can adapt to new data and reporting requirements.
Poor cashier habits and untargeted training cause inefficiency and loss at the front of the store and create noise in the analytics channel.
The lack of self-checkout oversight by employees creates significant risk of mistakes or even fraud, especially transactional fraud.
Retailers that implement new processes that demonstrate they’re keeping people safe will undoubtedly be seen favorably by shoppers.
There are two ways to maximizing the sum total of the potential value of ideas: increase the number of ideas and maximize the value of each individual idea.
Modern retail asset protection requires powerful tools to identify and eliminate internal and external fraud among all the categories of Total Retail Loss.
One widely discussed technologies is artificial intelligence and one of the forms of AI most easily applicable to the retail environment is computer vision.
There is a lot to look forward to as retail reopens. But capitalizing on post-pandemic sales should be accompanied by a renewed commitment to our people.
Inventory management underpins nearly every goal a retailer has, so executing effective management within the store is critically important.