RFID has become a technology that is used by a lot of brands and retailers from the apparel, sports, and footwear business. Their objectives are to provide stock accuracy and to optimize in-store operations. Additionally, RFID can help fight shrinkage. Retail crime remains one of the most serious threats facing the retail industry. “Shrink,” otherwise known as a reduction in inventory due to shoplifting, employee theft, or other errors, significantly impacts a retailer’s bottom line – to the tune of nearly $100 billion annually in direct losses worldwide. Regardless of where retail operations are located, shrink is a universal foe.
Sean Donnelly is Senior Director Global Retail Asset Protection and Investigations at Under Armour and he considers innovation part of Under Armour’s DNA, which is also true for his asset protection department, and this feeds his desire to constantly innovate in a way that creates greater efficiencies from his team. When members of his Asset Protection (AP) team relayed information about an RFID-based EAS system, he was instantly intrigued.
In this session, we will dive into the following topics:
- Benefits of RFID for Loss Prevention
- Lessons learned by Under Armour’s asset protection team
- Roadmap to create complete loss prevention strategy
- Observations from the lock-down situation and future potential to respond more effectively using RFID
- How the reopen process looks like and what challenges and opportunities are.
After this webinar, we hope that you create a better understanding of why RFID is the future in Loss Prevention and how a leading retailer is going through the current crisis with store closings and re openings.