Tag: inventory control accounting


A Root-Cause Analysis May Help Reduce Shrinkage

A Root-Cause Analysis May Help Reduce Shrinkage

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 increasing   Read More


Does Employee Monitoring Technology Change Staff Behavior?

Does Employee Monitoring Technology Change Staff Behavior?

New employee monitoring tools regularly emerge that allow retail organizations to keep a closer eye on employees. What is your sense of these products? Does technology-based employee monitoring reduce misconduct? Does it dampen or enhance worker productivity?

Researchers at the Massachusetts Institute of Technology examined these questions by analyzing two years’   Read More


ORC Theft Trends and Impact

ORC Theft Trends and Impact

Loss prevention has traditionally focused on shortage reduction through an emphasis on internal theft, external shoplifting, and operational controls. Resources to prevent these losses have been spent on developing programs and controls to stop loss from within the company.

Within the past couple of decades, however, retailers have identified the growing   Read More


Drug Diversion: Preventing Retail Pharmacy Theft

Drug Diversion: Preventing Retail Pharmacy Theft

As loss prevention professionals, we are all familiar with the nuts and bolts of running an investigation for a concealed shortage, cash register shortage, or a robbery. We have become the subject-matter experts with regard to merchandise or cash losses as well as developing an expanded role in safety.

One area   Read More


Loss Prevention Managers: How Do You Deal with Problem Employees?

Loss Prevention Managers: How Do You Deal with Problem Employees?

You hate confrontations with employees. They only seem to make things worse. Sometimes you even end up firing an employee. For these reasons, you generally avoid giving employees negative feedback unless it’s absolutely necessary. When it comes to small performance issues, you don’t come down like a ton of bricks; instead, you hint at a problem, making   Read More


How NOT to Investigate Organized Retail Crime

How NOT to Investigate Organized Retail Crime

According to the National Retail Federation’s (NRF) 2016 Organized Retail Crime Survey, all responding retailers said that they believe their companies to have been the victim of organized retail crime (ORC) activity within the past year. Eighty-three percent of those respondents believe that ORC activity has increased in the past   Read More


New Retail Technology in 2017 Adds Value through Analytics

New Retail Technology in 2017 Adds Value through Analytics

New retail technology has evolved exponentially over the past few decades, especially when it comes to analytics. Originally, descriptive analytics was the primary investigative tool used across our industry. These solutions provided only a snapshot of information about past events, often in the form of reports. When the reports were opened,   Read More