Nedap will join The Foot Locker Foundation together with members of the athletic industry for its 18th annual “On Our Feet” fundraising gala.

Nedap will join The Foot Locker Foundation together with members of the athletic industry for its 18th annual “On Our Feet” fundraising gala. The event, which will take place on Tuesday, October 23 at New York City’s Pier Sixty at Chelsea Piers, will benefit educational and other youth initiatives supported by the Foot Locker Foundation.

About The Foot Locker Foundation

The Foot Locker Foundation, Inc. has always been firmly committed to giving back to the communities we are a part of and serve. Our mission is to promote a better world for today’s youth by creating, developing and supporting innovative educational programs and encouraging health and well-being through physical activity. Through our contributions, leadership and efforts, we strive to empower young people to achieve their goals and be successful in life.

About Nedap

Since the company’s founding in 1929, Nederlandsche Apparatenfabriek ‘Nedap’ N.V. has been manufacturing smart technical applications for the challenges of today and tomorrow, and selling them all over the world. Headquartered in the Netherlands, Nedap boasts a workforce of approx. 680 employees and operates on a global scale, while the company has been listed on Euronext Amsterdam since 1947.

Nedap helps retailers permanently prevent losses, optimize stock levels and simplify the multi-store retail management.

Nedap’s !D Cloud software selected for largest RFID deployment in Nordic retail market

Groenlo, The Netherlands, 18 October 2018 Voice Norge AS selected !D Cloud, Nedap’s leading RFID software platform, for the RFID roll-out to their 200 stores in Norway. The roll-out, which was completed within 6 months, is the largest RFID deployment in the Nordic retail market to date. Johnny Ottesen, CEO at Voice, comments: “We realized […]

How RFID enables O2O retailers to truly unlock their omnichannel potential

Warby Parker, Everlane and Bonobos are some of the most prominent examples of O2O retailers; online retailers that open stores in the offline channel. Those O2O retailers are omnichannel at heart; their offline stores extend their online brand and this extra channel allows them to offer the customer experience that they can’t offer online. Therefore, often the focus in those stores is on brand experience.

“As a business owner, your duty is, above all, to bring value to the customer in new ways. Yes, the internet will always beat retail in cost-efficiency, but it will never measure up to the rich, real-life experience of being in a physical store.” Forbes

Online vs. offline discovery – commerce in the physical world
O2O brands often recognize that a lot of the discovery happens online while the actual commerce often still happens in the physical world. Because of their innovative character those O2O brands also have an innovative approach to their retail operations with a strong focus on creating a great store experience to inspire their customers when they are in their stores and use their stores to build a community. In general, the offline locations of those O2O brands can be divided into three categories:

  1. Showroom: stores do not carry stock , but have some sample items that customers can discover – see and touch.
  2. Outlet: stores carry the leftover stock that has not been sold online.
  3. Retail store: stores carry stock and shoppers buy the items there and then and take them home.

For O2O retailers with model 1 and 2, the inventory management is relatively simple and straightforward. In the ‘showroom’ model, customers can order items in the store or online, which are then shipped to the store or delivered to the customers home. In the ‘outlet’ model, retailers basically push their leftover items to the stores, which are then sold at a discounted price. Typically, there is no further integration with the retailer’s online channel.

The retailers with model 3 are opting for the more traditional retail model with instant gratification – customers can buy the items right there and own them now. However, all of a sudden the O2O retailers are faced with traditional retail challenges around, for example, inventory management. They now need to make sure that the items are allocated to the right location and are available when they are needed. In fact, by opening physical stores, they are introducing a new level of chaos in their operations.

When they were operating online only, the retailers were the only ones that were touching their inventory until it was delivered to the customer straight from the warehouse. When introducing physical stores, there are now more people interacting with their items in the store. Store employees are handling the product for retail processes but also customers interact with the products which introduces even more inaccuracies.

Deal breaker for omnichannel
The chaos that comes from the offline operation is a potential deal breaker for the omnichannel ambitions of those O2O brands. Their stores need to be an extension to the online experience and are a critical touch point for those new brands. Customers that come in to try on the items they liked on Instagram will be disappointed if the item is not available in the store. The loyal customer that travels to the store to pick up their outfit for the party they will attend later that day will be a lost loyal customer if the item is not available in reality.

On the flipside, those relatively young retailers have a huge potential and an even bigger opportunity coming from their offline ambitions. The more traditional retailers have been putting systems in place over the past decades to ‘fight’ the chaos. Having no legacy systems in place creates an opportunity to choose for modern technologies and easily integrate them into their processes and systems.

One of those modern technologies that significantly reduces the chaos is RFID. RFID allows retailers to increase stock accuracy, lower safety stocks, increase product availability and enable omnichannel through perfect inventory visibility. Knowing what you have and where it is lets customers shop anywhere and return everywhere. Inventory visibility enables retailers to:

  • Prevent out-of-stocks
  • Offer omnichannel services (e.g. ship-from-store or click&collect)
  • Offer flexible return options

In an omnichannel dream there is no place for the chaos that originates in the retail store operation. RFID helps to bring order back into the chaotic world of retail by giving full inventory visibility. O2O retailers have the opportunity to start from scratch and make their omnichannel dreams happen, as long as they choose the right technology foundation for their dreams.


Author: Hilbert Dijkstra – Director of Product Management

Interested to learn more? Simply connect with Hilbert on LinkedIn or fill in this contact form.

Winning Over The CFO: 6 Most Common CFO Objections

Seasoned Loss Prevention executives know that when attempting to acquire funding for a new LP initiative or solution, they must be prepared to answer some tough questions and possible objections from their CFO, as well as other senior executives.  A common best practice to prepare for these objections is to consult others within the company who have had experience going through this same capital request or budgetary process.  Often times coworkers can share the objections or tough questions that were previously asked of them.  LP professionals can use that knowledge and anticipate other similar scenarios, then practice viable responses.

What if an LP professional does not have someone to consult? 

Here is an opportunity to review some common questions and objections LP executives may encounter when asking for budget allocations or capital for a new or upgraded LP initiative. For illustration purposes, we’ll use the installation of Nedap’s EAS system with RFID capability as the LP initiative being proposed.

 CFO Question: What are the operating costs?

 LP Executive Answer: “Rather than continuing down the path of standard EAS, Nedap’s system is much more intelligent.  It will allow us to use the EAS system as more than just a deterrent to theft, as it provides Retail Analytics.  However, any slight increase in costs when compared to our current LP solution will be more than covered by the increase in sales we will realize due to having product on the shelf as a result of the reduction of theft, as well as the added benefits of RFID technology.  Therefore, this LP solution is well-suited to ensure we reach our break-even point within the first 10 months of the fiscal year.”

CFO Objection: We have other priorities right now. Maybe next year!

 LP Executive Answer: “We understand that one of the biggest challenges of any senior executive is how to justify spending capital on an LP solution, especially when shrink has improved over prior years.  However, it is important to note this LP solution doesn’t only reduce shrink.  It also reduces labor, provides crucial insight into what is being stolen so we can ensure proper replenishment immediately, and provides a wealth of other analytics that can be used by operations, marketing, and Loss Prevention.  Since all of these areas are priorities for us, it is imperative to integrate this LP solution.  By reducing theft, we will decrease turnover, increase average transaction size, and increase same store sales over last year.  With this improved in-stock position, customer satisfaction will undoubtedly improve.”

 Ever heard these common objections?

  • I don’t want to burden the store employees. The have enough to do!
  • This LP solution will NOT improve sales.
  • That sounds like a huge operation! We don’t have the capacity for that right now!
  • This LP solution requires additional hardware and capital expenditures.

For the answers to the above objections and more ways to win over your CFO, click here to download, “Winning Over the CFO – A Practical Guide for Loss Prevention Executives” by Nedap Retail.

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