As the global market matures and expands, retailers are demanding new logistics capabilities and more complex solutions to meet their supply-chain needs. Factors such as economic growth, expansion into new markets, e-commerce, and a greater acceptance of demand-driven logistics practices introduce complexities into the supply chain and generate the need Read More
Supply Chain Security encompasses the strategic planning and management of the many functions involved in the protection of our products and other assets as they move throughout the supply-chain network.
The supply-chain network is a critical component of retail management; and while many view the heart of retail as the interactions and events that happen within the store, this support system has always fueled the way. Through a complex web of processes and activity, a well-managed supply chain is absolutely essential to a successful retail operation. Considering that every single piece of retail merchandise must in some way pass through the supply chain network, the need to implement appropriate controls and protect our interests as product moves throughout the network is a critical aspect of retail management.
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The role of loss prevention across the supply chain has grown considerably in recent years, and continues to expand even today. The advancements in technology, the evolution of e-commerce and omni-channel retailing, and the mounting sophistication of retail crime will continue to revolutionize our role throughout the supply chain network.As this role grows more complex, our approach to the entire process must evolve as well. As a critical element of our overall programs, this function is much more sophisticated than making sure that doors are locked, keys are punched, and logs are signed; and that image and mentality must change to reflect the true nature of the security management process within the supply chain.
Efficient and effective supply-chain networks are necessary to successfully compete in the global retail market. This is a sophisticated, interdependent network of positions, processes, facilities, functions, responsibilities, tasks, transport, and technology that all culminates with delivering products and services to our customers.From a loss prevention management perspective, our attentions must then focus on disruptive risk. Any disruption in production or delivery will result in potential lost sales, decreased revenue, margin erosion, and profit loss.
Appropriate security plans must be designed to identify potential threats, evaluate how, when and where they may occur, develop effective approaches to mitigate losses, and build programs that improve efficiency and business recovery. Theft is certainly a primary consideration of supply-chain security efforts, but specific risks will vary depending on a variety of factors specific to the unique supply chain network. The potential risks must be identified and analyzed at each point along the network, building the plan that serves as the cornerstone of supply chain resiliency.
Envision the following scenario. You are at home around 8:15 at night watching television with your wife or kids when the phone rings. The caller is one of your regional LP managers in the Southeast. He tells you that you just had a tractor load of high-end apparel worth $2 million Read More
Distribution center loss prevention provides a unique challenge to the industry. As with all LP programs, the distribution center loss prevention team is tasked with reduction of shrink and generating a sufficient return on investment to justify their programs.
Given the growing investment in supply chain inventory management, how does a distribution Read More
If you grew up in the 1970s, you may remember the popular public-service announcement for parents that asked, “It’s 10 p.m. Do you know where your child is?” The statement seemed almost nonsensical, but it shared an important message for parents to ensure that they always make a conscious effort Read More
Once, a distribution center supervisor told me about their former logistics loss prevention manager. During management meetings, this fellow took great pride in informing the management team of his dedication and skills for discouraging potential warehouse theft perpetrators. He would recall the days when he hid in a dumpster during Read More
Thieves and fraudsters continue to invent new scams that threaten retail supply chains, even when organizations are following supply-chain security best practices. Security firm Check Point, for example, recently reported on a discovery of malware, adnets, spyware and even ransomware that had been installed on at least 36 Android devices Read More
The retail supply chain network is a critical component of the retail machine. While many may view the heart of retail as the interactions and events that happen within the store, this support system has always fueled the way. Through a complex web of processes and activity, a well-managed supply Read More
Retail doesn’t start and stop at the front door of our stores. Ultimately, our value depends on our ability to broaden our influence while protecting every aspect of the business enterprise. Supply-chain management is a critical component of the retail machine. While we may view the heart of retail as Read More
Cargo theft often is thought of as a silent and victimless crime despite the fact that it accounts for losses of billions of dollars annually in the United States. The most common incidences of cargo theft involve gangs who steal high-value commodities from loaded trailers. Substantial losses can also occur Read More
Supply-chain executives from retailers throughout the world will meet in Orlando, FL this month for the 2017 Retail Supply Chain Conference, hosted by the Retail Industry Leaders Association (RILA) from February 12-15.
The conference, which will be held at the Gaylord Palms Resort and Convention Center, will offer four days of Read More