At a time when store margins are under intense competitive pressure, retail shrink can make or break a retailer’s bottom line. But today’s retail shrink numbers are vulnerable to blind spots and imprecise metrics. In addition, most analysis and response to retail shrink are backward-looking: useful for staffing and long-term Read More
Tag: inventory management
What does a typical inventory control job description entail? Whether the specific title is inventory control clerk, specialist, manager, or coordinator, this vital position is usually responsible for ensuring an accurate and adequate quantity of product in a given organization.
In a nutshell, this person manages the inflow and outflow of Read More
By Chris Trlica
While the perception of shrinkage among the loss prevention industry has evolved from thinking about loss strictly in terms of theft to the consideration of all causes of inventory discrepancy, this change in approach hasn’t necessarily diffused into all of the other teams in a retail organization. Retail buyers are Read More
The concept of the retail return is a relatively new phenomenon. In the mid- to late-twentieth century, retailers began accepting returned merchandise as an attempt to gain a competitive edge. The concept worked.
For many retailers, flexible returns have become synonymous with quality customer service. Nordstrom, for example, has built a Read More
Technology regarding assets is moving at a fast pace. The ability to accurately monitor and track assets is of paramount importance to many industries and can protect the assets that a company has.
Radio frequency identification (RFID) technology is one way that any company can track their assets accurately. But what Read More
After thousands of systems installations over the past several years and in the midst of an 1,800-store rollout this year, CONTROLTEK launched a new group christened Professional Services. Behind the unassuming name is a group of industry veterans who came up with a new approach Read More
Few things are as frustrating for a loss prevention leader than discovering a bad packaging design they know will promote retail shrink, which could so easily have been prevented if those who created and approved the packaging had included shrink reduction in the initial design criteria. For example, in a Read More
By Chris Batson
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
Most retail companies have a department dedicated to maintaining processes and procedures related to inventory management and retail shrinkage. The inventory control department ensures that optimum inventory levels of products are available and accessible to the stores; that stock levels/turnover are efficiently managed; that inventory is maintained in a safe Read More