Label and tag manufacturer Kenco has rolled out new technology aimed at tackling what it says is the US$100bn issue of inventory shrink.
The Kenco-LP Security Tag aims to combat loss of inventory due to issues like shoplifting, receipt fraud, and price switching.
Launched in collaboration with peer Primera Technology Inc, the tag is a tamper-proof, versatile, easy-to-implement security device that “eliminates virtually every opportunity for abuse or deception,” according to Kenco.
Each tag is printed in full-colour with a unique serial number and security features that are embedded and locked into the device. The tag is then attached using a patented method that makes it tamper-proof and non-transferable, while print software captures data points and starts the audit trail, allowing businesses to keep track of items every step of the way.
The tag attaches to the garment easily and quickly, without damaging the item, the firms say, while at the tag’s identifier can be tracked at any stage from manufacturer to consumer. The tag itself verifies the authenticity of product and purchase and, if altered, tampered with or removed, the garment cannot be returned.
“Despite the huge impact of fraud and theft, no security device has yet been able to introduce a loss protection alternative that combines a very low cost, ease of implementation, high versatility, with strong protection,” said Ken Karan, Kenco’s CEO. “The Kenco-LP tag system meets these criteria. It’s an intelligent, innovative answer, not only to theft and fraud but also addresses inventory and product tracking; and is geared toward protecting retailer’s hard-earned profits.”
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By GlobalDataMark Strobel, vice president, sales and marketing, Primera Technology, adds: “The potential for the Kenco-LP/Primera system is significant. It’s a practical solution that is easily understood by retail employees and customers alike. Considering the immense impact of fraudulent returns, tampering, theft and logistics losses, this system is perhaps the most effective yet low-cost remedy ever introduced.”
Tags can be produced in any size or shape and can be read by existing POS systems, software, and smartphones with little to no training required.
