Customer Case Study: Florida Fresh
Jarrett Carr and the team at Florida Fresh partnered with Panoptyc to address their high shrink during an acquisition process in 2020. With no standard operating procedure for theft mitigation, Florida Fresh struggled with high shrink rates. When they did try to look for thefts, it sometimes took weeks to get the information sent over, resulting in uncooperative clients. After implementing Panoptyc's theft detection services, however, everything changed for the better.
Within 90 days of installing Panoptyc, Florida Fresh saw a remarkable reduction in shrink, from 25% to 6%. Jarrett estimated that they would have lost $12,000 during that 90-day period if Panoptyc had not been in place. Impressed with the results, Florida Fresh decided to roll out Panoptyc in all of their markets.
With Panoptyc, Florida Fresh has been able to standardize their process of dealing with shrink. They can get thefts sent over much quicker than previously, and they now bill clients for any shrinkage above a certain percentage, making their clients more invested in addressing theft issues. The simplicity of Panoptyc's theft reports has also improved client engagement, as they now receive consistent and actionable information.
In addition to theft detection, Panoptyc has also helped Florida Fresh improve their overall operations. Jarrett and his team have trained inventory managers and route drivers on the Panoptyc technology, allowing for better inventory management and monitoring. This has resulted in significant time savings, as they can now remotely check market inventory using Panoptyc's cameras, instead of sending drivers to physically inspect markets that could be hours away.Jarrett believes that Panoptyc has saved Florida Fresh thousands of dollars in theft losses, allowed their team to save time and focus on more critical tasks, and increased the business’s performance overall. With plans to implement Panoptyc in more markets in the coming year, Jarrett and his team are confident that Panoptyc will continue to contribute to their ongoing success.