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Prevent Losses.
Generate More Profits.Smart connected products can detect, deter and prevent losses of all
kinds, making everyone a winner by improving profitability all around.
Loss Prevention: Converting Problems into Profits
Spoilage. Cold-chain failure. Theft. No matter what form it takes, loss is a drag on profits. Taking home less at the end of the day is enough to motivate any business owner to want to stem the tide. The secret to successful loss prevention is making the math work: if your loss prevention strategy costs you less than the losses it prevents, you’ve found a winning approach.
How Smart Connected Products Can Help With Loss Prevention
Smart connected products are increasingly effective at loss prevention because the cloud can deliver the always-on, never-sleeping, works-anywhere vigilance essential to detecting, deterring, and preventing losses. As the cost of connecting products comes down, businesses are finding that the math is mathing for more loss prevention scenarios.
Why Loss Prevention is Good for Business
The bottom line is that loss prevention can be very profitable. When your connected product helps customers turn potential losses into potential profits, the ROI couldn’t be clearer and your connected product’s value proposition almost writes itself.
Business Loss is an Everyday Problem in Search of a Permanent Solution
Let’s face it: theft is rampant. Nothing is safe anymore, whether it’s sitting on a store shelf or moving in a shipping container across the continent. At the same time, businesses are dealing with increased risks from cold chain failure as more perishable goods are shipped. And in a tougher economic environment, a single ill-timed failure leading to significant spoilage can test the health of any small business.
Loss prevention matters because reducing losses means more profits to take home, more cash flow to invest in your business, or more cash on your balance sheet. That’s a delight for any business, and it will be a delight to your customers, too.
How Smart Connected Products Can Help with Loss Prevention
Smart connected products are the secret to detecting, deterring, or preventing losses due to theft, shrinkage, or spoilage:
Remote, always-on monitoring
Loss prevention starts with vigilance. With a connected product, the cloud is always watching. Unlike people, the cloud never gets tired, never misreads a thermometer, and never misses a door access event. (Computers are good that way.)
Predictive maintenance
Spoilage from equipment outages can be eliminated using AI to detect emerging failure modes and ensure appropriate mitigations are put in place, whether that’s proactive maintenance, reducing equipment load to sustain operations, or moving inventory to a healthy unit.
Asset location tracking
Connected products can provide continuous, always-on location tracking of all your important assets. Knowing where things are — and detecting when they’re in the wrong place — is a good start. Finding misplaced assets, or recovering assets that go on unauthorized walkabout, is even better.
Planetary roaming
Cellular technology is amazing but not always available. Satellite is too pricey to use all the time. A modern connected product can default to cellular, falling back to satellite only when necessary, ensuring that your loss prevention service is cost-effectively connected 7x24.
If your customer does experience a loss, the information provided by your connected product can ensure they have documented, auditable proof, helping them file claims for compensation or provide evidence needed by investigators.
Why Loss Prevention is Good Business
Preventing losses is the most straight-forward value proposition imaginable. Any customer would gladly pay 5, 10 or even 50 cents for every dollar in losses you could guarantee to eliminate for them.
There are several ways to price a loss prevention offering built using a smart connected product:
Fixed price
Charge a single fixed fee for your loss prevention service. Build in enough to pay for communications and cloud services needed for the product’s lifetime. Requires a product with a predictable lifetime.
Hybrid product/subscription
Sell your physical product for a fixed fee, and your loss prevention service as a monthly or annual subscription. This pays for your upfront hardware costs and creates an ongoing annuity stream for your business.
Pure subscription
Simplify everything by selling loss-prevention-as-a-service. Recoup your product cost with the profits from initial subscription installments. Works best with a fixed (not variable) subscription fee.
Success fee
Offer your customers guaranteed ROI by providing your loss prevention product and service for free, while collecting a share of the reduced losses as your success fee. Requires loss reduction to be accurately measurable.
When your connected product helps customers turn actual losses into actual profits, you’ve got a phenomenal value proposition. You’ll be in a position of strength to price your offering accordingly.
How Blues Helps You Prevent Losses
Blues helps you easily and quickly connect your products and deploy always-on monitoring, asset location tracking, and predictive maintenance to help your customers reduce or prevent losses.
Control costs
Saving money for your customers is only possible if you can price your loss prevention offering accordingly. Blues makes it possible to create and operate smart connected products affordably. No carrier subscriptions, even when you need Skylo or Iridium satellite connectivity.
Build your way
Blues offers the widest range of plug-and-play wireless technologies, including cellular, satellite, LoRa and WiFi. Pick what’s best for your loss prevention scenario, whether you are protecting static fixed assets or cargo that is transiting the globe.
Build securely
Data travels from your connected product to the cloud off-internet and encrypted. Blues designed-in enterprise-grade security from the start, protecting your connected product from prying eyes so you can focus on protecting your customers from loss.
Talk to us to find out if our Design Review Accelerator can help ensure your connected product will deliver the loss prevention you are planning. Or just start building, so you can bring your first prototype online before you know it.
From Reactive Losses to Proactive Prevention
Zero-Configuration IoT: How AgroPatterns Revolutionized Agricultural Monitoring with Blues – Case Study
AgroPatterns provides precision agriculture solutions for the global fresh flower industry, serving growers across the globe who manage million-dollar greenhouse operations. In an industry where up to 45% of flowers never reach store shelves and timing is critical for holiday deliveries, a single environmental miscalculation can destroy crops worth over $1 million per greenhouse.
Using Blues cellular connectivity, AgroPatterns is able to deploy agricultural monitoring systems anywhere in the world. Real-time environmental monitoring now enables growers to catch problems before they destroy crops and make precise adjustments that protect million-dollar inventories.
Use Cases
Downtime Prevention
Increase uptime by remotely monitoring the condition of your connected products so you can act before a failure occurs. Data-driven predictive maintenance eliminates costly outages, increases customer satisfaction and boosts everyone’s P&L.
Energy Savings
Improve energy management by connecting your products to gain real-time visibility, generate predictive insights, and enable your own automated controls. Reduce energy consumption, improve equipment efficiency and lower costs, while increasing sustainability and meeting compliance needs.
Truck Roll Reduction
Eliminate costly and unnecessary truck rolls by connecting your products to deliver real-time visibility into when maintenance or top ups are actually needed, instead of on a fixed schedule. Increase customer satisfaction with proactive, data-driven, perfectly-timed service visits. Learn more about how Blues eliminates unnecessary truck rolls.
Safety
Assurance
Connect your products to enhance safety and security through continuous monitoring, event detection, and automated alerts. Protect people, vehicles, cargo, and operations. Cost-effectively meet safety regulations and prove compliance. Learn more how Blues enhances safety and security.
Loss
Prevention
Reduce theft and eliminate spoilage by connecting your products with uninterrupted global coverage, using sensor telemetry and real-time location to protect equipment and inventory. Avoid these preventable and costly losses which disrupt operations. Learn more about how Blues helps reduce theft and reduces spoilage.
Take Your Next Step
Whether you're focused on reducing spoilage, protecting inventory, or preventing costly failures – or all three! – we're ready to chat or help you dive right in.