This press release was issued by Profitect Inc. prior to its acquisition by Zebra Technologies on June 3, 2019.
Matthews, NC, August 29, 2018 – The Loss Prevention Foundation (LPF) today announced that Profitect Inc., the leading prescriptive analytics provider for the retail and CPG industry, is its newest Bachelor level scholarship partner. As a Bachelor sponsor, Profitect is awarding numerous certification course scholarships for retailers, universities, and internal associates. Profitect is also now able to provide complimentary LPF memberships to loss prevention practitioners.
Profitect’s cloud-based prescriptive analytics solution leverages pattern detection and machine learning algorithms to identify opportunities that impact sales and margin. Profitect takes a retail & CPG company’s data and identifies areas of importance to the loss prevention/asset protection community including incidences of organized retail crime (ORC), vendor non-compliance, cashier fraud, cash loss, lapses in training, and excessive shrink.
“The Loss Prevention Foundation’s mission is to advance the LP profession through our LPQ and LPC credentialing courses,” stated Terry Sullivan, LPC, President of The Loss Prevention Foundation. “Profitect has served as a key partner and we appreciate Profitect’s dedication to supporting LPF’s effort to further elevate the loss prevention/asset protection profession. Without partners like Profitect, who are committed to our industry, our mission would not be possible.”
“We are excited to expand our partnership and support of the Loss Prevention Foundation,” said Guy Yehiav, CEO, Profitect. “The loss prevention/asset protection community has always been a strong advocate for the power of prescriptive analytics and benefits it can bring across an organization. We see supporting the LPF as an extension of our goal of helping professionals improve operations, increase customer satisfaction, and reduce costs by using their data in smarter ways.”
About The Loss Prevention Foundation:
The Loss Prevention Foundation (LPF) is a not-for-profit 501c(6) organization founded in 2006, by industry leading professionals to serve the loss prevention /asset protection industry. An international leader in educating and certifying loss prevention and asset protection professionals, LPF is responsible for administering the industry’s only internationally sanctioned LP credentials: LPQualified (LPQ) and LPCertified (LPC). With 24/7 online educational resources and a professional membership program, the LPF is able to educate the industry like no other organization of its kind, in the world. LPF is also focused on driving more talent to the industry from colleges, universities, military and law enforcement through its Academic Retail Partnership Program and its Hire A Vet Program.
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 and identifies areas for improvement including: inventory accuracy, out of stocks, pricing accuracy, unsellable merchandise, and assortment discrepancies. Profitect customers typically realize a 2-5 percent increase in sales, better consumer experience, 10-15 percent basis point margin improvement, and labor productivity improvement within 6 months.
To learn more about Profitect visit: www.profitect.com
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