By Farrokh Abadi, President and Chief Operating Officer, Shrink Management and Merchandise Visibility Solutions, Checkpoint Systems
In Part 1 of this discussion on how retailers can reduce out-of-stocks and improve merchandise availability, we discussed the new market realities facing retailers, including tighter margins, shifting shopper behavior and the need for hyper-accurate inventory availability status. In this installment, we cover how innovative retailers are taking an integrated, intelligent and insightful approach to addressing issues related to inventory management and shrink management in a cohesive manner, often using RFID technology to achieve their most important goals.
Bringing Together Inventory and Shrink Management to Improve Merchandise Availability and Enhance the Shopper Experience
Retailers have sought to balance the need to secure high-theft items with their desire to keep those items on display for customers, rather than locked away in cabinets or in other defensive merchandising tactics, which discourage consumers from shopping and leads to lost sales. The desire for secure, “open merchandising” solutions has led to the development of innovative high-theft packaging solutions such as Keepers™, CableLoks™ and SpiderWraps™, as well as attractive, yet secure, display merchandising solutions for electronics and other high-ticket items.
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