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Inventory Loss

by msecadm4921

Names from a wide of industries converged at the end of April, seeking to reduce the costs associated with retail theft and inventory loss. The European Source Tagging Conference 2004 was held in Amsterdam from April 28 to 29.

Source tagging, the application of concealed anti-shoplifting labels within the finished product or packaging at the point of manufacture, offers a security solution to reduce theft, improve customer service, better product availability and facilitate sales through increased open merchandising opportunities, the event heard. More than 300 decision makers from manufacturers, retailers and technology providers attended the conference, which was sponsored by Wal-Mart, ASDA and ADT. With keynote speakers including Rob Swyer, Director of General Merchandising at ASDA UK, Gerard Hickie, Managing Director of Constance Carroll Cosmetics and John Smith, President of EAS-RFID at Tyco Fire & Security, the conference covered aspects of the supply chain and provided information on the implementation of source tagging programmes.
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What they said
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Dr Kay Hafner, President and Managing Director of Wal-Mart Germany said: ‘We are happy to now have one common technology in all of our stores so that we are able to use one common means of source tagging which is acousto-magnetic technology.’ Prof Brian Subirana, Visiting Associate Professor of Information Technologies at the Massachusetts Institute of Technology (MIT) and Associate Professor at IESE Business School, provided an update on the facts and fiction surrounding RFID technology. Electronic article surveillance (EAS) is a way to protect most products against shoplifting. The introduction of RFID is complex and requires that the company’s IT systems and processes be completely aligned and the business case needs to be analysed in every case. Broad scale use of RFID for item-level tracking is anywhere between three and 10 years away. When the technology is ready it would be complementary to EAS in preventing inventory loss, he said. Alex McNutt, Managing Director of ADT Europe & South Africa, said: ‘We believe that such events provide the opportunity for both retailers and manufacturers to learn from each others’ experiences and to keep up to date on the latest technology advances to control loss throughout the supply chain'</br>

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