CONTROLTEK LIVE at RFID Journal LIVE!

CONTROLTEK will join RFID Journal LIVE! May 3-5, 2016 in Orlando, FL at Orange County Convention Center.  Visit CONTROLTEK at booth 742 to learn more about our superior RFID product offerings.  CONTROLTEK offers a solution that allows companies to utilize RFID throughout their organization with ease and flexibility.

RFID Journal LIVE

Wondering if RFID is right for your company? RFID Journal LIVE is the event to find one part of the answer. From RFID basics to increasing sales and reducing shrink, RFID Journal LIVE! Exhibition and Conference boasts of numerous RFID-friendly tracks, such as:

  • Defense & Aerospace
  • Health care/Pharmaceutical
  • Innovation
  • Manufacturing
  • Payments/Authentication
  • Retail/Apparel
  • Supply chain/Logistics
  • Warehouse & Inventory Management
  • Technology & Infrastructure

Finding the Complete Answer

CONTROLTEK is the other part of that answer. Yes, your company is ready for RFID through an innovative partnership with CONTROLTEK. CONTROLTEK proudly offers ControlSpan, a newly refined inventory visibility system (IVS). The ControlSpan suite allows not only improved inventory visibility, but also enhanced profitability and customized integration to help make existing systems more efficient and accurate. Retailers can rediscover how to resolve shrink beyond the capabilities of traditional EAS. ControlSpan is a modular solution built to allow freedom of choice at the beginning of an RFID deployment, to grow with the demands of the organization, and provide options at all levels instead of being locked into a single, siloed offering.

Request a Live Demo

Reimagine the capabilities of RFID and request a ControlSpan Live Demo here or visit us at booth 742 for more information.

Complacency: The Risk That Comes with Lower Shrink

While inventory shrink is still an issue in the retail industry, this year’s statistics indicate loss prevention efforts have been paying off.
The 2015 National Retail Security Survey showed a 1.38 percent average in inventory shrink (as a percent to sales) during the previous year, totaling $44 billion in losses, Security InfoWatch reported. While retailers are still losing a considerable amount, this year’s shrink percentage was the lowest ever recorded in the 24 years the survey has been taken.
Top Threats Contributing to Inventory Shrinkage

“This year’s shrink percentage was the lowest ever recorded in the 24 years the survey has been taken.”
An average of 1.38 percent inventory shrink is still a significant figure, which takes into account several different sources. According to this year’s survey, customer shoplifting accounted for 38 percent of shrinkage last year. In addition, 34.5 percent of losses came due to employee theft, and another 16.5 percent was the result of administrative and paperwork errors. The final 6.8 percent was due to vendor fraud.

These numbers illustrate the array of threats today’s retailers face, including professional thieves and internal theft. Dr. Richard Hollinger, lead author of the survey and criminology professor at the University of Florida, noted that this year’s results showed a significant change. Previous surveys attributed a larger percentage of inventory shrinkage to employee theft.
“For years, I have been criticized by some retailers who didn’t believe that internal theft was bigger than the shoplifting numbers and that’s been the case for the over 20 years we’ve done this study,” Hollinger said. “This year, for the first time, that number flipped so that a larger portion of the loss was attributed to shoplifting and organized retail crime as opposed to internal theft.”
Hollinger pointed out that not only is this a reflection of the increasing activities of shoplifters, but could also show that retailers are now more effectively deploying internal theft prevention strategies. Video surveillance and other security solutions have also helped curb losses.

Further Prevention of Retail Shrink

While this year’s survey showed an overall reduction in inventory shrink, this doesn’t mean retailers should cease efforts when it comes to product security. In fact, as outlined in our infographic below, the industry is avoiding complacency by placing a higher priority on loss prevention, with 40 percent of all retailers increasing their loss prevention budgets.
So what solutions and best practices can retailers utilize in the continuing fight against retail shrink?

  • Deploy video surveillance: Hollinger pointed out that video surveillance and connected analytics software have been of considerable aid in reducing theft and loss.
  • Improve merchandise security: Solutions including intelligent EAS systems can help boost the protection of individual items, helping to ensure that merchandise doesn’t leave the store until after a transaction has been completed.
  • Leverage advanced tracking: RFID solutions including tags, doorway readers and handheld readers provide an unmatched level of visibility into operations and inventory, unparalleled process management and compliance monitoring, and reinvents how retailers discover and resolve shrink beyond the capabilities of traditional EAS.

However, this only scratches the surface of the inventory visibility, security and intelligent packaging solutions available. To find out more and establish a unique loss prevention and product security strategy for your store, contact CONTROLTEK today.

About CONTROLTEK
Since 1976, we have been delivering unique products and solutions to the cash-transfer and asset protection industries to address specific business challenges.  Our company has grown steadily based on the quality of our products and the quality of our service. Our commitment to research and development is combined with a willingness to listen to the people who everyday depend on our products. By relentlessly researching and introducing new materials and new features, we are proud to say we have impacted the way assets are secured globally.
With experience gained through research and collaboration within the financial and retail sectors, we actively charted a course over the past several years to bring added value, new thinking and viable approaches, addressing the dilemmas and challenges that frustrate business professionals today.
During this process, we realigned our resources within CONTROLTEK, creating three silos (ISS, ISP and IVS).  This enables us to focus more specifically on the needs of our Clients and their specific challenges they face on a daily basis.  Additionally, CONTROLTEK has aligned itself with Global partners to provide holistic solutions that solve today’s challenges.   Whatever the application, CONTROLTEK resources stand by ready to deliver results that enable commerce and effectively secure assets at financial institutions and leading retailers across the globe.

Giving Retail CEOs What They Need the Most

Earlier this year, the Loss Prevention industry was shaken when the D&D Daily referenced the latest Whitepaper by the Calibration Group, which revealed that Stock-on-Hand (SOH) is 7 times greater than ORC. Now that the world of retail has been alerted to this new finding, what can Loss Prevention professionals do to leverage technology in a way that reduces shrink while increasing sales? Watch the below video for the answer to this provocative question. It’s time to give retail CEOs what they desire: A Loss Prevention Department engaged in every aspect of the business.

Download the Stock-on-Hand whitepaper here.

CONTROLTEK to Exhibit at the 2016 RILA Asset Protection Conference

CONTROLTEK will exhibit at the 2016 Retail Industry Leaders Association (RILA) Asset Protection Conference at the Gaylord Texan Resort & Convention Center, April 17-20 in Dallas, Texas in booth 324.

RILA’s Asset Protection Conference regards the retail landscape as a puzzle where retailers get the whole picture.

Solving the Retail Puzzle

RILA strives to educate, collaborate, and advocate for the retail industry.  CONTROLTEK wholeheartedly supports this endeavor.  With CONTROLTEK’s innovative products and commitment to finding relevant solutions for retail challenges, CONTROLTEK is a proud sponsor of RILA.

CONTROLTEK’s inventory visibility systems (IVS) with ControlSpan meet the complex demands of the ever-changing retail landscape. ControlSpan is true visibility made easy. The ControlSpan suite offers end-to-end inventory and process management solutions from source to shopper that allows not only improved visibility, but also enhanced profitability and customized integration to help make existing systems more efficient and accurate. ControlSpan is a modular solution built to allow freedom of choice at the beginning of an RFID deployment, to grow with the demands of the organization, and provide options at all levels instead of being locked into a single, siloed offering.

Click here to request a ControlSpan Live Demo.

Collaboration That Works

RILA’s Keynote Speaker for this year’s Asset Protection Conference, André Hawaux, Executive Vice President & COO of Dick’s Sporting Goods, will share how he transformed $300 from a cookie jar into a nearly 7 billion dollar ominchannel retailer. More importantly, he will highlight how the loss prevention team has been involved in the company’s integrated game plan and winning strategies to become the nation’s largest full-line sporting goods retailer. André will describe some unique ways the Loss Prevention team is contributing to the company’s mission, the latest challenges they are facing and how the department will continue to evolve to support the growing and ever-changing business. CONTROLTEK believes this type of collaboration is central to the success of any Loss Prevention team.

As any Loss Prevention team would agree, merchandise is not the only asset in need of protection. CONTROLTEK’s collaboration with Loss Prevention teams has resulted in CONTROLTEK’s Intelligent Security Packaging (ISP) product offering, including their Vault Process Certified (VPC) SafeLok™ retail deposit bags.  SafeLok™ deposit bags are secure and easy to use and provide the relevant technology to protect assets.

Click here for more specific information about SafeLok™ retail deposit bags.

Partnerships that Work

CONTROLTEK also offers a complete line of Inventory Security Solutions (ISS) designed to help run your business more efficiently. Our EAS Systems, including AM, RF and RFID technology options, as well as our tagging solutions, are built upon cutting-edge technology to help secure your products.

In a continued effort to assist Loss Prevention professionals, CONTROLTEK has partnered with Nedap Retail, a leading international provider of services and solutions for diverse needs in loss prevention and stock management.  Through this strategic partnership, CONTROLTEK proudly offers RFID overhead technology with !D Top. The !D Top is an integrated RFID reader that can easily be mounted on the ceiling! Its compact, clean design blends into every store, keeping the entrance of the store open. It offers state-of-art performance for Electronic Article Surveillance (EAS), stock room-to-sales floor efficiency, and goods receiving processes in a retail store. Multiple !D Tops can also be linked together to cover large entrances.

To learn more, contact CONTROLTEK today and visit us at booth #324!