Cox Communications yesterday announced, at the Northwest Arkansas Tech Summit, that they are teaming with Dell Technologies to explore joint technology solutions that help retailers improve inventory management, ensure product security, monitor foot traffic and protect against daily shrinkage or product loss.
According to Cox, shrinkage is one of the largest problems facing retailers, and it takes many forms including theft, cashier errors, skipped checkout lines, label switching and more. The average retailer loses nearly two percent of their total sales annually to product loss, according to the National Retail Federation, which is significant given the industry’s narrow margins.
Cox’s robust fiber-powered network and emerging technology solutions like Cox Private Networks enable high-performing cloud solutions closer to where data is being created. This powerful network, combined with a cutting-edge AI analytics platform from EPIC iO and Dell’s computing platform and infrastructure, can be used to design retail solutions in an easy-to-deploy, cost-effective package. These solutions could detect and alert a supervisor about shrinkage anomalies so they can spot employee mistakes, alert them to point-of-sale (POS) system errors and potentially even prevent losses before they occur.
Cox is exploring retail and other solutions with Dell Technologies because of Dell’s deep industry expertise and the breadth of its edge partner ecosystem, that includes EPIC iO and EPIC iO’s DeepInsights AI + IOT Platform. These combined capabilities enable Cox to explore a more complete solution and go to market quickly to address challenges they are hearing from customers.
Josh Sommer, vice president of new growth and development, Cox Communications
The key to reducing shrinkage is the ability to proactively address product loss and immediately respond to profit loss incidents in real time. By harnessing the power of Cox’s fiber-powered network, paired with Dell’s powerful infrastructure, we can bring the cloud right to the storefront and allow retailers to help minimize loss prevention while ensuring lasting customer loyalty. Ultimately, they can remain competitive amidst increasing customer expectations and competition.
David Trigg, vice president, strategic planning, Telecom Systems Business, Dell Technologies
Edge technologies help retailers analyze data where it’s created, in the store, to make faster decisions and deliver positive experiences for shoppers and employees. With Cox’s network, combined with Dell edge infrastructure, retailers have a solution that is quick to install and easy to manage while delivering on customer shopping expectations.
