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
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.
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
A recent survey of retail security directors showed that almost half of those polled had been the victims of a supply-chain disruption directly related to cargo theft in the past year. This is a significant increase from recent years.
Envision the following scenario. You are at home around 8:15 at night Read More
With the growing significance of digital advertising and the advent of viewer customization and data mining, marketing to the same person in multiple touch points is a must for businesses today. While almost all of the tech-savvy retailers have decided to embrace multi-channel marketing, there are few to take full Read More
LP Magazine was pleased to be invited to attend the 2016 Home Depot Supply Chain conference held at the Store Support Center in Atlanta this week.
Mike Combs brought members of his team in for two days of training and knowledge sharing about logistics and loss prevention at Home Depot. Solveig Read More
Most retailers run at least one (and often many) major warehouse operations. Some have a loss prevention arm specifically dedicated to supply chain security and safety. But for many in LP, the warehouse is rarely top of mind, and the subject of warehouse burglary doesn’t come up often. In fact, an 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
According to the Supply Chain Management Review, supply chain cyber security threats continue to haunt those responsible for supply chain inventory management. Both the U.S. and Canada have recently issued advisories on “ransomware” attacks. These events permit hackers to capture critical data and then deny its rightful owner access to Read More
Mexico’s number of cargo thefts grew 73 percent in 2015. According to FreightWatch International’s supply chain report, 1087 incidents were reported. Northern Mexico’s cargo thefts rose significantly, although the central zone states of Puebla, Guanajuato and the State of Mexico remain the highest risks. Food and drink continue to be Read More
Five residents of Miami-Dade County in Florida have recently been arrested in connection with a statewide organized cargo theft ring. An investigation by the Florida Attorney General’s Office, in conjunction with the Miami-Dade Police Department and local task forces, found that the suspects reportedly used a rental vehicle to travel Read More