Nedap launches its iD Cloud Loss Prevention solution

This solution is part of Nedap’s iD Cloud Platform, an integrated suite of SaaS solutions to create inventory visibility.

iD Cloud Loss Prevention enables retailers and brands to track every unique item at critical areas in their stores, like at the point-of-sale or the store entrance and exit with the use of RFID technology. The algorithm of iD Cloud Loss Prevention can automatically detect suspicious events such as items leaving the store in bulk, items leaving outside of store opening hours or spotting items more likely to be stolen.

The algorithm was designed to be able to recognise theft and fraud patterns over time. By knowing which items have a higher theft risk, retailers and brands can discover shrinkage trends that otherwise would have gone unnoticed and combat organised retail crime, theft, and fraud. This allows retailers to introduce seamless shopping experiences for their customers like mobile checkouts, Buy Online, Pick-Up in Store (BOPIS) or receiptless returns without uncontrollable shrinkage levels.