Using Emerging Tech and GCP to Provide Greater Inventory Intelligence

The Problem:

Due to a lack of data robustness, Sensormatic, a loss prevention hardware supplier, was unable to provide actionable insights to their clients. This lack of actionability, along with changing retail environments, was creating a large threat to their current business model. Sensormatic came to RevUnit to partner on an RFID enabled tool that would help them expand their user-base by attracting new logos.

Our Process & Solution:

Our team conducted extensive user research with current and former Sensormatic customers, and potential future users. Using this synthesis, our team evaluated the data outputs from their current acousto-magnetic systems (EAS tags) and built a new data strategy that addressed key areas of opportunity. Our research uncovered two additional user personas outside of their current asset protection users – category managers and financial leaders.

Our team then designed a multi-persona reporting platform that focused on greater inventory intelligence, and increased the information available around the financial impact of loss events. This allowed category managers to reduce out of stocks by understanding what inventory entered and left a store, either through a sale or loss event. This also allowed for greater collaboration between asset protection and finance teams to make sure that loss-prevention tactics were providing a net positive impact at a store and chain level.

Additionally, our team used a modeled data set and GCP tools to created a working Proof of Concept and pitch materials for Sensormatic’s sales process. You can download the full GCP case study here.

The Results:

Our RFID solutions reduced inventory variance by 50% per client and reduced product shrink by 22% per store.