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Retailers Succeed with Single Smart Sensor Strategy for Inventory Management and Loss Prevention

Innovative Sensormatic RFID solution deployed with global fashion retailer

Johnson Controls announced the first customer deployment of its single smart sensor strategy, using the TrueVUE radio frequency identification (RFID)-enabled solution to manage inventory while also leveraging the technology for merchandise protection — traditionally accomplished by two different solutions with different sensors and data capture infrastructures. Sensormatic Solutions now supports a single smart sensor platform as part of its inventory intelligence portfolio to help retailers maintain inventory accuracy, on-floor availability, support omni-channel fulfillment and enhance merchandise protection. By combining insights into retail inventory, shopper traffic and loss prevention, Sensormatic Solutions powers operational excellence at scale with smart offerings for frictionless shopper experiences.

A premier global fashion retailer with 250+ North American stores is one of the first Sensormatic Solutions customers to adopt this innovative smart sensor platform. As a retailer committed to delivering unique and engaging in-store customer experiences it’s critical to have a high level of accuracy and visibility into all merchandise styles, colors and sizes across the locations. The iconic retailer chose the TrueVUE solution to gain accurate and timely inventory and shrink visibility across their entire portfolio using a single smart label. With the fast turn in fashion, they need to keep floors stocked at all times to meet shopper demand, while accessing real-time insight into item location across the stores.

“Today’s influential global brands are looking for intelligent ways to help increase overall inventory productivity, maximize sales floor assortment and decrease losses due to theft and shrink. All of this leads to a better shopping experience for their customers,” said Brent Brown, vice president & general manager of Inventory Intelligence & IoT, Sensormatic Solutions. “In addition, they are looking for the incremental cost savings associated with migrating to a single smart sensor to support these strategic initiatives.”

Several other progressive apparel retailers have embraced this smart sensor strategy and are currently in the deployment phase. Sensormatic’s RFID-based TrueVUE Inventory Intelligence solution enables sales associates to know the exact number and location of items by style, size and color to ensure on-floor availability and timely sales floor replenishment. These solutions now also include the ability to know exactly what has been lost to help both minimize the problem and maximize on-floor availability. Having a consistently well-stocked merchandise presentation and a real-time view into inventory availability helps retailers keep pace with fashion trends and meet shopper needs.

For more information, please visit our press center at news.sensormatic.com.

Learn more about TrueVUE Inventory Intelligence, here.

Amazon, Alphabet and Walmart Were Top IT Spenders in 2018
Amazon.com Inc. spent more than $13.6 billion on technology in 2018, making it the biggest corporate IT spender in the world, according to new research from International Data Corp. Google parent Alphabet Inc. and Walmart Inc. were in second and third place, respectively, with each spending nearly $12 billion last year on software, hardware, services, telecommunications equipment and staff, IDC says.

Servers and other data-center infrastructure account for much of Amazon’s and Google’s spending as they build cloud services to sell to other companies often seeking to decrease their own IT budgets, says David Lantsman, research manager for customer insights and analysis at IDC.

In 2018, the top 10 companies accounted for 7% of the estimated $1.1 trillion spent by the 4,800 firms IDC tracks.

Walmart, the only retailer in the top 10, has been spending heavily on technology to improve its supply chain, e-commerce and logistics services, said Jeremy King, executive vice president and chief technology officer at Walmart, speaking with CIO Journal’s Sara Castellanos on stage at the National Retail Federation conference in New York on Sunday. wsj.com

2018 Proved Highest Funding Year for Cybersecurity - $5.3B
Despite a 28% decrease in cybersecurity startups during 2017, global venture capital funding for cybersecurity rebounded with record high investments, according to Strategic Cyber Ventures.

Though last year saw $5.3 billion in cybersecurity global ventures, Strategic Cyber Ventures called this an unsustainable investment rate.

Over half of cybersecurity founders of new startups have more than a decade of executive or entrepreneurial experience, as opposed to the past two years in which there was nearly an even split between experienced founders and less-seasoned founders, the report found. infosecurity-magazine.com

The Retail Industry’s Third-Party Data Breach Problem
According to Trustwave’s 2018 Global Security Report, the retail industry suffered more data breach incidents in 2017 than any other sector as attackers become more organized and targeted with their efforts.

Retailers have increased their security spending to combat cybercrime, but some of the world’s top brands have still suffered data breaches because they are not addressing an important monitoring and security threat: third-party services.

In today’s competitive digital environment, online businesses rely on armies of third-party services to boost engagement and optimize the customer experience on their websites. From live chats and custom fonts, all the way to product reviews and gifting apps, these add-ons have provided tremendous value to retailers. These same engagement boosters, however, can do more harm than good if hackers can exploit partners’ poor security standards or vulnerabilities within their solutions.

While brands should be sure to have the right technologies in place to prevent against things like fraud, data loss and other breaches that they can control, they also need to make sure that they are properly securing and accounting for the third-party applications their websites rely on as well.

There are some fundamentals security experts can utilize to protect themselves from third-party risks.

Pre-Integration Auditing
A great place to start in building up a secure third-party service ecosystem is by auditing and scrutinizing all third-party applications, as well as any additional services they rely on, before they are officially implemented. Beyond ensuring that the roll out goes smooth in terms of performance and overall business value, a rigorous assessment procedure allows brands to gain the visibility needed to fully understand the different entry points attackers could attempt to penetrate.

Plus, thorough auditing can help them answer important questions related to faulty lines of code and potential loopholes hackers could try to slip through.

You Can’t Prevent What You Can’t See
Many third-party services depend on additional tools to manage properly which then add to a retailer’s total attack surface. A pivotal step in preventing data breaches is to gain complete visibility into all of the entities being targeted by online criminals. For retailers, this now includes having a detailed snapshot or a list of all the third-party services operating within their IT ecosystems. infosecurity-magazine.com

Shutdown threatens even more government websites
The list of affected federal sites grows as security certificates expire, giving hackers more opportunities to get between you and the website you're visiting.

The government shutdown, now in its 25th day, continues to affect the security of federal websites, and the number of impacted sites has jumped.

Netcraft, a UK-based web security company, noted last week that it had found more than 80 US government websites operating with expired security certificates, a situation that could put visitors at risk. On Thursday, the company said the number had grown to more than 130 federal sites with expired certificates.

Sites such as those of the Department of Justice and NASA were among those initially affected. The latest round of certificate expirations includes sites for the White House, the Federal Aviation Administration, the National Archives and the Department of Agriculture.

As the shutdown drags on, more certificates are likely to expire, because they can require employees to renew them. The certificates have different expiration dates scattered throughout the year, and the workers who would normally renew some of them are likely to be out on furlough.

That leaves the information -- think passwords and credit card numbers -- vulnerable to hackers. cnet.com

How to avoid becoming the next victim of a Magecart attack

PCI Security Standards Council Publishes new Software Security Standards

8 Tips for Monitoring Cloud Security

'Inside the LPRC IMPACT Conference' 2018
An Eight-Episode Series Presented by Sensormatic

Assessing The Real-World Impact of LP Efforts
The LPRC Delivers Evidence-Based Solutions and Actionable Results

New Retail Members

The Value - Expectations - Benefit - Why They Joined

Perry Resnick, Director, Loss Prevention, Boot Barn
Lincoln LeFebvre, Senior Manager - Field Asset Protection, The Home Depot
Aaron Hancart, Director of Asset Protection, TCC, Verizon Premium Wireless Retailer

In our 7th episode, hear from one LP executive who’s been involved in the Loss Prevention Research Council for quite some time but with a recent move is getting his new company and team involved in the LPRC; and two AP executives who have been involved for a relatively short time but are engaged and adding value.

Long-term LPRC member Perry Resnick shares what factors went into his decision to invest part of his operating budget in the LPRC, and how the group's evidence-based research helps him in selling programs and obtaining capital from his senior leadership.

Lincoln LeFebvre explains how LPRC's scientific approach takes emotion out of the equation and gives you plausible solutions you can measure immediately.

And Aaron Hancart talks about the importance of staying at the forefront of industry research and results, and how LPRC's violent crime working groups have been especially useful in his retail environment.
 

Exclusive Sponsor:

See more of our 2nd LPRC series here. Watch our 1st series here.
Take the time to learn. As this is the LP/AP academic "Think Tank".

Why all data breaches pose a threat to retailers’ customer experience
Recently, there has been a flurry of major, highly publicized consumer data breaches. They seem almost like a weekly occurrence. While few of the cases have involved online merchants, the collective threat and publicity have caused a massive problem for retailers.

Because we’re curious about the challenges retailers face, we commissioned a third-party market research firm to study 2,000 U.S. online shoppers over the busiest shopping season of the year—Thanksgiving through Cyber Monday. The goal was to get a sense of how consumers perceive the security of their own data.

At the same time, we wanted to know more about fraud (i.e. fraudulent charges on consumer credit cards or retailer accounts), which is often the goal and/or end result of cyber criminals hacking into systems for consumer data. Needless to say, the data suggests that online retailers have a problem on their hands. Consider some of the top findings.

The study uncovered that an astonishing 62 percent of consumers aren’t confident their personal data is secure with retailers. Of that, approximately 25 percent said they knew their data wasn’t safe and 37 percent weren’t sure. Nearly half of consumers, 43 percent, report being a victim of a fraudulent charge from a retailer.

Digging a bit deeper into which specific industries consumers report as the most common source of fraud, the top eight most-common industries were electronics (40 percent); fashion and apparel (38 percent); makeup, fragrance, skin and hair care (21 percent); children’s items and toys (21 percent); home furnishings and improvement (20 percent); jewelry, watches and accessories (20 percent); sports and recreation goods (19 percent); and pet products (16 percent).

But, here’s the rub for all online retailers. A majority of consumers who reported being victims of fraud (52 percent) said that the fraudulent charge—whether on their credit card or direct retailer account—negatively affected their view of the retailer. In short, regardless of who was responsible, how the charge got on there, or if it was easily resolved, most felt that retailers should shoulder some of the blame. That’s a significant finding when, as any smart retailer would know, it could have absolutely nothing to do with them. digitalcommerce360.com

“Amazon for Teens” launches for minors to shop online

New York establishes its online sales tax rules

Six things to expect from Amazon in 2019

A New Era Of Click-And-Collect Technology Might Bring Amazon And Retailers Closer Together

US Amazon Prime membership officially breaks 100 million
 

ORC News
Sponsored by Auror
 

Chesterfield, MO: Police form task force to combat rising theft
Police in Chesterfield have formed a task force to combat serial shoplifting and theft. A Chesterfield police sergeant said thieves are taking all types of items from many stores. Items such as soap, deodorant, lotion and toothpaste. In October, police say they arrested 24 people and recovered $15,082 in stolen property. In the days leading up to Black Friday, thieves took laptops, phones and other electronics. Police said they arrested 41 people in November and recovered $36,7085 in stolen property. In December, police say retail stores and clothes were targeted. Chesterfield police say they arrested 30 people and recovered $6,471 in stolen property. Chesterfield police say eight officers have been focusing on the problem of theft. It is not clear if the thefts are related or part of a working gang. kmov.com

Jackson, MS: McDonald’s Burglar steal frozen food and cash register; caught pulling cart down the street
The burglary occurred at the fast-food restaurant at 3:56 a.m. Wednesday. A McDonald’s employee told WLBT that she and her boss arrived at the restaurant for work when they saw a man run out of the office and out the back door of the business. The man was pushing a dolly with boxes of food down the street. When the man saw the employees, he left the dolly and food on the street, got into a nearby car and left the area. ajc.com

Update: Livonia, MI: Suspects in Oakland County Costco theft accused in similar crime in Livonia
Livonia police say the suspects arrested earlier this month in Oakland County for "smash and grab" crimes at Costco are suspects in a similar crime that took place Jan. 2. Police say two of the same suspects were arrested after taking police on a chase starting at the Costco in Commerce Township. Suspects Raphael Simmons, 17, and JaJuan Profit, 18, were arrested Jan. 7 after taking police on a chase. Livonia Police say those two individuals, along with others, are suspected of a similar crime Jan. 2 at the Costco at 13700 Middlebelt. hometownlife.com

UK: Hampshire, England: Gang of 4 women who used specially-tailored skirts to steal $6,000 of perfume from Boots; now facing 1 to 2 years in prison
The four women - who have 25 children between them - travelled from London to Hampshire to target high street store Boots while 'equipped' with the garments adapted by hand, which included pockets which had been sewn into the inside of the skirt in order to conceal the items. dailymail.co.uk

Gretna, NE: Shoplifter goes on $1,400 spree at Nebraska Crossing store

Loveland, CO: Police seek women suspected shoplifting cart full of merchandise...and the cart

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7 Habits That All Great Leaders Have
The charismatic and confident speaking leader of Hollywood is nothing like the empathetic and humble leadership styles it takes to really inspire a team. Here are seven habits great leaders have in the real world. The best leaders lead least

Here’s what the world’s smartest leaders know about what it takes to be successful
Everyone aspires to some sort of leadership, and help on how to achieve such high status is never far. To be a truly great leader, you first must master this art: followership

10 Golden Rules to Become a Great Leader
When you're given a leadership role, you should always handle with care. No matter if you're a leader of employees, a company, country or anything in between, here are the 10 rules to follow. Have fun

Being a Good Leader Means Mastering This 1 Overlooked Skill
A leader's greatest obligation is to see those around them. Your employees, colleagues, clients or customers, really need to be seen and heard. That's a leader's greatest skill and influence. Here's how you can master this skill. Ask and listen

Healthy debate in any industry spurs growth, understanding, and challenges the status quo. Without it the normal evolutionary processes which are slow to begin with slow even further. It is those who have the courage to debate that make a difference and create change. However, as in the case of any debate interpreting and understanding the messages is critical in order for it to have a positive impact and facilitate change.

Usually driven by opposing sides, debates are driven by individual experience and environmental influences that are often times invisible and therefore unrealized. But at the end of the day, regardless of opinion all debates spur discussion, thought, and emotion. And that is what causes change and understanding.

While interpretation is an individual experience, the experience itself has the ability to impact and educate.

Just a Thought,
Gus

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