What Is Shrink?
Shrink is the portion of your inventory that gets lost or stolen. Your shrinkage is expressed as a percentage based on the value of lost inventory divided by sales during the same period.
Milestone offers solutions to combat shrink, whilst ensuring sales are promoted and products are not locked away.
What Solutions Exist To Fight Shrink?
Different products and different risks require different solutions. Milestone offers many shrink management solutions to suit your needs. Each product has its own unique shrink challenge. Milestone believes in a multi-faceted approach, where different solutions work together to achieve excellent results.
We are able to protect a wide range of products, such as items on the shelf (baby formula, clothing, liquor, perfumes etc.), products on display (cellphones, laptops, tablets, headphones etc.) and much much more.
What Is EAS?
Electronic Article Surveillance – A security system that creates a field to protect goods leaving your store without evidence of a transaction. The system comprises of antenna (placed at the entrance of your store) and tags (attached to your high-risk products). This system is also commonly referred to as an anti-shoplifting system.
How Can I Get My Locked Up Stock On Open Display?
Milestone offers many solutions to protect your products while enabling customers to interact with them, increasing sales. This enables high-risk products to be merchandised freely, taking them out from behind glass cabinets.
Phones and tablets can be put on stands, enabling customers to pick them up and experience the product. Laptops can have alarms and physical security fitted so that customers can interact, or staff can have their work laptops out without having to worry.
What Is RFID?
RFID stands for Radio Frequency Identification. An RFID system consists of tags that are placed on products, and antenna or readers to read the tags. Each tag is unique, enabling each product to have a unique identifier without the possibility of accidentally being scanned twice.
RFID tags offer the same purpose as a barcode or magnetic strip, providing an identifier for the product, but have a very important difference. These RFID tags consist of a circuit and a microchip. Once the tag is in the RFID field of the antenna or reader, current flows through the circuit, which in turn powers the microchip. This enables the products to be scanned and identified quickly as line of sight is not needed to scan these tags, enabling quick reading (a reader can read thousands of tags per minute.
This opens up many possibilities in a variety of industries. Inventory can be counted hundreds of times quicker than is currently possible, enabling stock takes to be done much quicker and more frequently. With the RFID system running optimally, a large clothing store can have a stock take completed by a single person in under an hour with incredible accuracy.
RFID can offer many benefits, such as: quick stocktaking and inventory control; statistics on products, anti-shoplifting protection,and much more.
What Are The Benefits Of People Counting?
There are many benefits to utilising a people counting system, such as being able to see foot traffic at certain times or on certain days, what your sales conversion rate is, if you can adequately attend to customers with your current number of staff, if marketing campaigns have been a success etc.
People counting is often an underestimated tool for retailers, but when implemented, can assist in reducing costs as well as increasing sales.