This press release was issued by Profitect Inc. prior to its acquisition by Zebra Technologies on June 3, 2019.
Matthews, NC, April 25, 2019 – The Loss Prevention Foundation (LPF) announces that Profitect Inc., the leading prescriptive analytics provider for the retail and CPG industry, is for the second time increasing its sponsorship level. The organization will now be a Doctorate partner of the LPF; the highest level of partnership the LPF offers. As a Doctorate partner, Profitect is able to award numerous certification course scholarships for retailers, universities, and internal associates.
Profitect leads the industry with their innovative cloud-based prescriptive analytics solution, which leverages pattern detection and machine learning algorithms to identify opportunities that impact sales and margin. Profitect takes retail & CPG company 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.
Profitect and the LPF recently collaborated on an educational seminar event at the University of Indianapolis. The one-day event which took place Tuesday, March 12, taught college students the challenges and aspects to being an LP professional. Profitect CEO Guy Yehiav’s session, titled “Analytics, Big Data, Exception Reporting and Prescriptive Analytics” focused on how organizations can use machine learning and artificial intelligence to analyze and interpret data to identify any behavior anomalies, and take action.
“Profitect has been an invaluable supporter of the LPF and their new dedication to supporting us through a Doctorate partnership really emphasizes how much they value the future of loss prevention,” stated Terry Sullivan, LPC, president of The Loss Prevention Foundation. “Our mission at the LPF is to use education to advance the LP profession through our LPQ and LPC certification courses. Profitect’s continued and advanced level of sponsorship, along with their time and expertise helping us on the education front, enables us to continue fulfilling that mission. We are so grateful for their support.”
“Our Doctorate level partnership embodies our commitment to helping the Loss Prevention Foundation achieve their goals,” said Guy Yehiav, CEO, Profitect. “We are proud to partner with the Loss Prevention Foundation because we believe strongly in the work they are doing to empower the next generation of Loss Prevention/Asset Protection leaders.”
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. For more information, visit www.losspreventionfoundation.org.
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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