Last week, RILA's Asset Protection Leaders Council, made up of senior asset protection executives at RILA member companies, met in Nashville for their annual meeting of benchmarking, best practices discussions, and peer-to-peer networking. New to this year's meeting, the agenda included an Innovation Showcase featuring startups developing gamechanging technology for the field of retail asset protection. The startups each pitched their technologies and recieved feedback from the executives in a "Shark Tank" style panel.
We sat down with each of the participating startups prior to the event to get learn more about their approach to asset protection. Our Q&A with Zebra is below.
Q. Tell us a little about your technology.
A. It’s a transformational time in retail and Zebra’s SmartLens solution is purpose built to enable retailers to enhance the in-store experience and drive automation through store operations. Through sensor fusion, SmartLens delivers real time visibility into everything that happens within a store and enables retailers to track assets, employees, shoppers and merchandise. SmartLens allows a retailer to eliminate costly out of stock situations, deliver on their omnichannel strategy, enhance the customer experience and enrich loss prevention capabilities.
Q. What makes your technology game changing?
A. By fusing multiple technologies, SmartLens is able to provide real time visibility into everything that happens within the retail store and automate actions that deliver positive business results.
Q. What sets your technology apart from other technology designed to tackle the same problem?
A. SmartLens automates store operations around inventory management and loss prevention enabling retailers to drive bottom line impact and eliminate the dependency on manual intensive process. SmartLens has combined the use of RFID, video and micro-location to proactively identify relevant business events and automate the execution of the necessary action.
Q. How do you expect your technology to influence retailers' approach to asset protection?
A. SmartLens enhances asset protection capabilities across all 3 primary areas (customer, employee and administrative). SmartLens sends proactive notifications to store associates of high value and/or high shrink items in motion enabling associates to engage with customers and prevent shrink events from happening. SmartLens automates the process of validating the receipt of product as soon as it hits the dock door. SmartLens can also provide return authentication, item level locationing, POS validation and enhanced asset protection in fitting rooms.
Q. What do you see as the next big challenge or opportunity coming in the AP field?
A. With the continued growth of e-commerce and omnichannel fulfillment, retailers need to have an effective asset protection strategy to support the evolving retail environment.
Q. What excites you about showcasing your technology in Nashville?
A. At Zebra we are laser focused on solving our customer’s biggest problems and our SmartLens solution has been developed based on the feedback and partnership that we have with our customer base. We are excited to showcase the solution in Nashville to another group of retail thought leaders to gain additional feedback and insight as to how we can best support their business. .
For more information on RILA's asset protection community, please reach out to Lisa LaBruno at firstname.lastname@example.org.