Reducing Retail Shrink by 22% with Google Cloud and Sensormatic
Creating a “Smarter Exit” solution to surface key inventory and shrink insights to retailers
Leading globally in inventory intelligence, Sensormatic provides loss prevention hardware and software solutions to retailers. Their solutions make connections and bridge gaps across retail enterprises to deliver critical, real-time insights into inventory, shoppers, and more.
RevUnit partnered with Sensormatic on a proof-of-concept (POC) for software that leverages existing hardware in retail stores for visibility around shrink and inventory availability. This project was built on data innovation, new product design/development, and data visualization.
“With Sensormatic’s expertise in loss prevention and RevUnit’s expertise in modern data tools, we will bring a best-in-class solution to retailers looking for a path to true inventory intelligence.”
— Anthony Peralo, Sr. Business Development Manager, Sensormatic
The Challenge
Better inventory availability is on just about every retailer’s roadmap. But getting to true intelligence takes heavy investment in both hardware and software to track inventory accurately. With competitive pressures and the growing need to get valuable data to improve operations, retailers are stuck trying to figure out how to take the first steps towards this critical inventory objective.
The Solution
Sensormatic and RevUnit created visibility around a next generation “Smarter Exit” solution to surface key inventory and shrink insights to retailers. RevUnit built data infrastructure and designed an application powered by Google Cloud. By leveraging the data gathered by Sensormatic’s pedestals, the team had the ability to structure and model, then serve up inventory insights in an intuitive dashboard.
Solution Pillars
- Application Modernization
- Digital Transformation
- Data Management
- Smart Analytics
Solutions
- Application Development & Monitoring
- Cloud-Native Application Development
- Analytics
- Data Processing
- Industry Focused
- Visual Intelligence
The Results
The new dashboard provided retailers added visibility. RevUnit’s collaboration with the Sensormatic team to enhance and iterate on their software offering to clients helped them stay ahead of competition and provide a modern, more information-centric solution. Client results from the solution achieved reduced inventory variance for clients by 50% and reduced shrink by an average of 22% per store.
