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
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.
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
In most large-value cargo thefts occurring at stores, there are two key components: a store employee and a driver. The employee allows access to the goods, while the driver has the means to transport the stolen freight unnoticed. One key tool in combating this problem is the strict rotation of Read More
Having a general understanding of the customs process is a critical aspect of efficient supply-chain management. Customs is an authority or agency responsible for controlling the flow of goods into and out of a country. Depending on local legislation and regulations, the import or export of certain products may be Read More
Attendees Discuss Safety and Loss Prevention at Home Depot Supply-Chain Conference
Meeting brings together AP team from across logistics channels.
LP Magazine was pleased to be invited to attend the 2016 Home Depot supply-chain conference held at the Store Support Center in Atlanta in early October.
Mike Combs brought members of his team Read More
Supply-chain management encompasses the planning and management of the many activities involved in sourcing, procurement, conversion, and logistics management for the business. It involves planning and processing orders; handling, transporting and storing the products purchased, processed and/or distributed; and managing the inventory of goods in an efficient and coordinated manner.
The 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
From robbers attacking merchants on trading roads to pirates seizing ships at sea and even bandits on horseback robbing stage coaches, cargo theft has been around for centuries. Fast forward to today: trucks have replaced horse-drawn wagons, and today’s cargo theft perpetrators are often part of international crime syndicates. The Read More
Loss prevention in distribution centers (DCs) 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 Read More