Artificial Intelligence helps retailers reduce shrinkage losses
Announcement posted by Fujitsu Australia Limited 13 Aug 2003
An intelligent new Loss Prevention system from Fujitsu is helping Australian retailers address shrinkage issues that can diminish sales by up to 10 per cent. Shrinkage, including shoplifting, employee fraud, administrative fraud and vendor fraud, translates to millions of dollars of lost revenue every year but Fujitsu has a powerful new solution to the problem.
Loss Prevention is a sophisticated system that integrates tightly with existing platforms for POS read-outs, sales monitoring, stock control and even operator surveillance cameras. The system uses artificial intelligence software to identify and report anomalies or unusual activity in stock, takings, operator activity, product lines, supplier or invoicing.
Margins in the FMCG sector are razor-thin, so any reduction in shrinkage goes straight to the bottom line. With Loss Prevention, Fujitsu is helping Australias retailers fight back against the causes of shrinkage by making it easier to identify and manage shrinkage, said Marcus May, General Manager Retail, at Fujitsu Australia.
Shrinkage takes a staggering amount out of retailers pockets every year anything up to 10 percent of overall turnover in Australian retail stores. Reducing that, even just by a fraction, could add millions of dollars to retailers revenues.
Designed to work in conjunction with Fujitsus GlobalSTORE retail management system, Loss Prevention is a comprehensive solution that comes in two forms: a customisable, highly scalable package for larger retail chains; and a smaller, pre-configured package for small chains and single operators.
Loss Prevention is a highly sophisticated analytical software package based on Fujitsus in-depth analysis of a tremendous amount of retail data accumulated over time. It hooks into existing stock management systems, POS readouts and even links to operator surveillance cameras. Most importantly, it generates digestible reports that allow system managers to quickly spot problems, May added.
The high-end system is ideal for retail chains with 50 or more stores. It can also assist in managing customer loyalty programs, identifying spending patterns and regular shopping habits in certain areas and in marketing targeted to specific customers.
The entry-level version is more suitable for smaller chains, with 70 pre-configured reports that offer highly accurate loss prevention profiles for all main areas of shrinkage.
This is a system for all store owners, not just the big retailers, Mr May added.
Notes to Editors
Fujitsu Australia Limited
Fujitsu is a global leader in information and communications technology solutions. Throughout Australia and New Zealand Fujitsu is recognised as a leading systems integrator and services provider. We deliver complex infrastructure systems and services, and business and telecommunications solutions, as well as offering access to a wide network of partners. From the desktop to the data centre; multi-vendor procurement to prime contracting; consulting to systems integration, Fujitsu has earned a reputation as the single supplier of choice for leading corporate and government organisations. Visit au.fujitsu.com for further information
Fujitsu Australia Limited is a wholly owned subsidiary of Fujitsu Limited of Japan.
About Fujitsu Limited
Fujitsu is a leading provider of customer-focused IT and communications solutions for the global marketplace. Pace-setting technologies, highly reliable computing and telecommunications platforms, and a worldwide corps of systems and services experts uniquely position Fujitsu to deliver comprehensive solutions that open up infinite possibilities for its customers success. Headquartered in Tokyo, Fujitsu Limited (TSE:6702) reported consolidated revenues of 4.6 trillion yen (US$38 billion) for the fiscal year ended March 31, 2003. For more information, please see www.fujitsu.com.
Loss Prevention is a sophisticated system that integrates tightly with existing platforms for POS read-outs, sales monitoring, stock control and even operator surveillance cameras. The system uses artificial intelligence software to identify and report anomalies or unusual activity in stock, takings, operator activity, product lines, supplier or invoicing.
Margins in the FMCG sector are razor-thin, so any reduction in shrinkage goes straight to the bottom line. With Loss Prevention, Fujitsu is helping Australias retailers fight back against the causes of shrinkage by making it easier to identify and manage shrinkage, said Marcus May, General Manager Retail, at Fujitsu Australia.
Shrinkage takes a staggering amount out of retailers pockets every year anything up to 10 percent of overall turnover in Australian retail stores. Reducing that, even just by a fraction, could add millions of dollars to retailers revenues.
Designed to work in conjunction with Fujitsus GlobalSTORE retail management system, Loss Prevention is a comprehensive solution that comes in two forms: a customisable, highly scalable package for larger retail chains; and a smaller, pre-configured package for small chains and single operators.
Loss Prevention is a highly sophisticated analytical software package based on Fujitsus in-depth analysis of a tremendous amount of retail data accumulated over time. It hooks into existing stock management systems, POS readouts and even links to operator surveillance cameras. Most importantly, it generates digestible reports that allow system managers to quickly spot problems, May added.
The high-end system is ideal for retail chains with 50 or more stores. It can also assist in managing customer loyalty programs, identifying spending patterns and regular shopping habits in certain areas and in marketing targeted to specific customers.
The entry-level version is more suitable for smaller chains, with 70 pre-configured reports that offer highly accurate loss prevention profiles for all main areas of shrinkage.
This is a system for all store owners, not just the big retailers, Mr May added.
Notes to Editors
Fujitsu Australia Limited
Fujitsu is a global leader in information and communications technology solutions. Throughout Australia and New Zealand Fujitsu is recognised as a leading systems integrator and services provider. We deliver complex infrastructure systems and services, and business and telecommunications solutions, as well as offering access to a wide network of partners. From the desktop to the data centre; multi-vendor procurement to prime contracting; consulting to systems integration, Fujitsu has earned a reputation as the single supplier of choice for leading corporate and government organisations. Visit au.fujitsu.com for further information
Fujitsu Australia Limited is a wholly owned subsidiary of Fujitsu Limited of Japan.
About Fujitsu Limited
Fujitsu is a leading provider of customer-focused IT and communications solutions for the global marketplace. Pace-setting technologies, highly reliable computing and telecommunications platforms, and a worldwide corps of systems and services experts uniquely position Fujitsu to deliver comprehensive solutions that open up infinite possibilities for its customers success. Headquartered in Tokyo, Fujitsu Limited (TSE:6702) reported consolidated revenues of 4.6 trillion yen (US$38 billion) for the fiscal year ended March 31, 2003. For more information, please see www.fujitsu.com.