WALTHAM, Mass., April 18, 2012 /PRNewswire/ -- Dennis Klein, Vice President of Loss Prevention at Abercrombie & Fitch, will be speaking at the 2012 RILA Loss Prevention, Audit and Safety Conference. Klein will discuss how Abercrombie & Fitch, one of the most profitable retailers in the industry, was able to translate inventory information into item-level profit opportunities, insights and trends, through the use of profit amplification from Profitect. Klein will be presenting on Monday, April 23, 2012 at 11:00 a.m. at the Gaylord Texas Resort & Convention Center.
Profitect's profit amplification solution has enabled Abercrombie & Fitch to redefine the role of loss prevention within the company. As a result of the profit amplification solution, Klein has altered the focus of his department, realizing loss prevention is much more than simply analyzing shrink—it involves evaluating damages and profitability as a whole.
"Using Profitect has changed how we look at our role. It's not just about loss prevention and shrink. It's about profitability. It's about increasing sales and reducing cost, not just loss," said Klein. One of the key benefits to his department has been the change in personnel awareness, with the switch from a shrink-focus to a more complete, profitability-focus.
In this session, Klein will discuss how past loss prevention practices and inventory counts would only identify the shrink and damage issues after they had already taken a toll on the retailer. He will demonstrate how profit amplification can enable retailers to identify high loss opportunities on a daily basis, allowing the loss prevention departments to address these opportunities using actionable solutions without delay.
About Profitect Profitect's enables retailers to quickly discover and actualize untapped growth and profit opportunities across the entire retail value chain. Profitect's algorithms quickly identify measurable profit optimization opportunities through the identification of value chain margin leakage, waste, process errors, operational risks and damages and shrink — returning intelligent, prioritized actions for increasing profit. For more than 16 years, Profitect's expertise has successfully amplified profits for retailers worldwide and delivered immediate ROI supported by modular, quick, non-disruptive deployment of modern, scalable technology and time-tested best practices. With 100% customer success, Profitect consistently fulfills its commitment to deliver more than 5% profit increase within six months.