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BURLINGTON, Mass., May 01, 2019 (GLOBE NEWSWIRE) -- Profitect Inc., the leading prescriptive analytics provider for the retail and CPG industry, today announced the company is working with leading grocery retailer Brookshire Brothers to optimize efficiency, improve sales, and reduce shrink. Brookshire Brothers will be presenting on the business benefits the grocer has achieved with Profitect at the RILA Asset Protection Conference in Denver, May 6 at 2:15 pm.
A Profitect customer since 2014, Brookshire Brothers leverages Profitect’s Sales and Exception Based Reporting (EBR) module to reduce fraud, improve compliance, optimize pricing, drive basket analysis, and improve associate efficiency, customer satisfaction, and more. In their speaking session at RILA AP, Brookshire Brothers Director Brian Lair will discuss how the Asset Protection department joined forces with their Operations and Finance partners to drive an in-store culture of ownership around fraud and shrink reduction. Lair will detail how leveraging prescriptive analytics, they’ve uncovered creative fraud schemes that would have otherwise gone undetected, identified training opportunities to reduce process errors, and found ways to increase associates’ productivity.
Brookshire Brothers is using Profitect’s prescriptive analytics to crack tough-to-solve cases involving markdown abuse, post voids, and other criminal activity by associates and external subjects, including ORC rings. The tool is empowering employees to uncover new ways its stores’ profitability is being impacted.
“Brookshire Brothers is a great example of a customer who continues to benefit from our prescriptive analytics in new and innovative ways,” said Guy Yehiav, CEO of Profitect. “We appreciate Brookshire Brothers’ partnership and their enthusiasm for promoting the value our solution has delivered to the organization. I look forward to joining Brian on stage at RILA AP and discussing how fewer reports and more actions can empower employees at the edge to deliver stellar results.”
Using this prescriptive analytics vs a standard EBR approach, Brookshire Brothers was able to identify:
“As an organization, we realized we needed to take our Asset Protection department in a new direction, and in order to do so, we needed a tool to bring information to us instead of having to manually search for issues,” said Brian Lair, vice president, asset protection, Brookshire Brothers. “We chose Profitect’s prescriptive analytics for this purpose. The information they deliver is now provided to us in the form of an opportunity. This allows us to easily search and react to multiple potential internal issues, increase productivity, and identify any possible training concerns. We look forward to presenting the benefits this important partnership has yielded at the RILA AP conference.”
The RILA AP conference is being held at the Gaylord Rockies in Denver, Colorado from May 5-8. This will be the 7th year Profitect is attending and speaking at the conference with a customer. Profitect also returns to RILA AP as a previous three-time winner of the organization’s esteemed Retailer’s Choice award, an award voted on exclusively by retailers and representing values key to Profitect: innovation, customer service, and success.
About Brookshire Brothers
Brookshire Brothers and its family of brands operate more than 110 locations across Texas and Louisiana. Headquartered in the East Texas town of Lufkin, Brookshire Brothers' assets today include a family of more than 110 retail outlets incorporating grocery stores and convenience stores, as well as free standing pharmacy, tobacco, and gasoline locations. To learn more about Brookshire Brothers, visit www.brookshirebrothers.com.
Profitect’s prescriptive analytics solution leverages pattern detection and machine learning to identify opportunities that impact sales and margin. Profitect takes retail and CPG company data to identify areas for improvement including: inventory accuracy, out of stocks, pricing accuracy, unsellable merchandise, and assortment discrepancies. Profitect customers typically realize a 2-5% increase in sales, better consumer experience, 10-15% basis point margin improvement, and labor productivity improvement within 6 months. To learn more about Profitect visit: www.profitect.com or follow the company on Twitter and LinkedIn.