Most retailers have adopted omni-channel strategies to meet consumers’ demand to browse or buy whenever and wherever they choose. But enabling everything from mobile point of sale (POS) to in-store pickup of online purchases has made inventory control and product logistics far more difficult. The complex new retail environment is Read More
Tag: internal and external theft
How to Calculate Shrinkage in Retail
Understanding how to calculate shrinkage in retail is a fundamental but critical concept within the loss prevention profession as well as throughout the retail industry. Ultimately, retail shrink directly results in lost profits, and can have a dramatic impact on the success of the retail Read More
Integrating an effective loss prevention program can yield dramatic improvements when it comes to mitigating inventory shrinkage. But aligning an LP department appropriately within the structure of an existing company is not an easy thing to do. It is crucial to ensure that the LP team becomes an essential component Read More
Industrial Security Solutions (ISS) specializes in providing a complete range of EAS and CCTV products and services that focus on cost-effective solutions catered to each unique retailer. By manufacturing tags and systems in both AM and RF frequencies, ISS is able to offer competitive pricing on the most specific of Read More
Man shoots at loss prevention officers
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$10k sledgehammer break-in
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For those of who have been in the loss prevention business for a number of years, you are surely familiar with the retail shrinkage life cycle illustrated in Figure 1. No doubt some of the businesses you have worked in have been around it a number of times.
It is a Read More
What does inventory shrinkage mean to you?
For most companies, the answer to this question would be obvious: a significant problem, and usually something that is getting worse, not better, despite unprecedented developments in technological solutions and growing loss prevention budgets.
Some retail companies across the globe are gleaming examples of how Read More
With limited resources necessitating efficiency and cost effectiveness, but standards still requiring responsiveness to customer needs, managers are asking questions about the best ways to achieve their goals in the loss prevention arena. New approaches such as systems-wide efforts or working as collaborative partners in order to identify new problems Read More
The pace of change in the retail industry has accelerated dramatically over the past few years. The move to online shopping, emergence of mobile retail, and use of social media as part of the “daily fabric of shopping”—three of the disruptive forces highlighted in PwC’s Total Retail 2015: Retailers and Read More
The success of an employee awareness program at any company is dependent on matching the communication theme and substance to the company culture. This article is an in-depth look at the thought process for how one asset protection department developed a very unique approach to their employee awareness program within Read More