In 2011, retail shrinkage totaled more than $119 billion, with shoplifting accounting for more than $51 billion in losses.
As retailers discover the benefits of improved inventory visibility from deploying RFID, many are looking at integrating RFID technology into their loss prevention strategies.
The integration of item level RFID information and loss prevention data creates a real-time understanding of what, when, and how specific items go missing. Tyco refers to this new understanding Shrink Visibility, combining information from Electronic Article Surveillance (EAS), video surveillance, and new RFID inventory-visibility technology to give a complete picture of loss events — at the SKU level and in full context — at the moment they occur.
Among other things, Shrink Visibility helps retailers to track and manage retail shrinkage from all sources, in real time, and to differentiate between actual store shrink and other forms of inventory distortion.