Controlling C-Store Shrink Using POS Data Analytics
C-Stores handle a lot of cash along with small but valuable goods that allow opportunities for theft or other loss. Staff often work unsupervised. Despite round-the-clock video monitoring, it is nearly impossible to monitor all activities without additional technology. Utilizing automated monitoring plus AI heuristics and data analytics to identify risky behavior and notify management saves time and pinpoints the necessary review points. The identified transactions make it much simpler to catch problems early and deter undesired behavior by staff.
Display POS high risk shrink behaviors and provide quick access to the precise transactions that need review. The data show patterns that make it obvious where to look. The ability to quickly click to the specific events allows managers to prove the theft and address bad behavior. The process is fair, and the information is compelling.
The monitoring is always active. Each day all of the register transactions and events are processed. The proprietary shrink AI and analytics learn, and highlight shrink patterns based on refunds, voids, no sales, deposits, negative entries, and manual changes, Combinations of register behaviors used to steal or hide improper activity are identified. A summary of shrink events is delivered so that the riskiest stores and cashier activity is listed in priority order. The data related to the bad patterns is grouped and then linked to provide the exact transactions, times, and items to make it obvious if video review or inventory checks are required.
Area managers can review the results or quickly share the exact details with store managers. The process is automated, and a risk profile is delivered to those that need notification. The monitoring is always active.
Every chain is vulnerable to shrink. Taking an active stance saves time, reduces stress, and allows for an objective way to address suspicious activity. The cloud-based summaries and custom-configured emails deliver the information needed to control it.