Mining Data to Reduce Shrinkage in Organized Retail

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Provided by: Journal of Theoretical and Applied Information Technology
Topic: Data Management
Format: PDF
Shrinkage is a reduction in inventory due to shoplifting, employee theft, paper work errors and supplier fraud. If the shrinkage amount is large for a company obviously it will result in the net profit deterioration. In this paper, the authors propose a model to reduce shrinkage in a retail industry using data mining. The barcode of a product is taken as the primary key. The access to this key should be with one trusted party and the remaining database can be accessed by anyone. Maintaining barcode for the product types such as stationery, groceries will solve this problem.
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