In his bestselling book, The 7 Habits of Highly Effective People, Stephen Covey presented a holistic, principle-based approach for solving personal and professional problems. This got the ECR team thinking: what if for “highly effective people,” we read “low-inventory shrink retailers”? What then would be the habits of low-shrink retailers?
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Articles by Colin Peacock
Few things are as frustrating for a loss prevention leader than discovering a bad packaging design they know will promote retail shrink— a feature which could easily have been prevented if those who created and approved the packaging had included shrink reduction in the initial design criteria.
For example, in a store,
EDITOR’S NOTE: This article first appeared in the Autumn 2017 edition of LP Magazine Europe.
In the English language, the word “set” reportedly has the most number of different meanings—464 according to the Oxford English Dictionary. The word “run,” with 396 meanings, is apparently making a strong bid to catch up,
You are driving to work as a supermarket supply-chain manager. The hot weekend weather has continued, it’s a lovely Monday morning, yet you’re surprised when your boss calls so early. Agitated, he shares how he just discovered from the CEO that all stores were reporting a massive sales loss because
In the mature and highly competitive retail sector, ensuring that the right product is on the right shelf at the right time is critical. Yet the problem of shelf out-of-stocks (OOS) remains as stubborn as ever. Could the loss prevention team be the key to unlocking this new sales opportunity?
In April 2014, the ECR Europe Shrink and On-shelf Availability Group received a special award from ECR Europe to celebrate 15 years of the group and the delivery of an estimated €1.5 billion (~ $1.6 billion) in savings for the industry.
As Sir Terry Leahy, former CEO of Tesco, once said
More than ever, it seems that those in loss prevention are being faced with a plethora of new loss prevention technology solutions. In fact, at a recent loss prevention conference organized by the Retail Industry Leaders Association (RILA), over 37 different technologies were being promoted, including global positioning systems (GPS),
Technologies do not manage themselves; they need to be managed with equal passion and energy at all the key stages of their life cycles, from the initial selection for trial through to their eventual decommissioning. Here are the three skills and approaches that I have observed over the years to
Experienced, organized, and professional shop thieves have long ago identified how to defeat what they view as rather predictable electronic article surveillance system technologies. Their habits and techniques are well advertised on YouTube and available in published books sold on Amazon. Given this, the primary target for EAS technologies should arguably
Marketing textbooks tell us that every product, brand, and technology has a life cycle. First, there is the launch and introduction, then a period of strong growth, then a period of maturity, and then of course, a period of decline.
This basic understanding of product life cycles came to my mind