In his bestselling book, The 7 Habits of Highly Effective People, Stephen Covey presented a holistic, principle-based approach for solving personal and professional problems. This got the ECR team thinking: what if for “highly effective people,” we read “low-inventory shrink retailers”? What then would be the habits of low-shrink retailers? Read More
Tag: inventory shrink
Three-quarters (75 percent) of retail jewelers participating in a Senseon® Secure Access survey said they are more concerned about jewelry theft than in the past, Senseon reported recently. Of those jewelers expressing anxiety, 44 percent are “a lot” or “moderately” concerned.
Among other findings:
Nearly one-third (31 percent) of respondents experienced Read More
The evolution of the loss prevention profession has required a change in the way we approach the retail environment. First, we now recognize that inventory shrink is a more complicated problem than mere theft of merchandise. Shrink is a complex issue. Shrink reduction is now seen as a vehicle of profit 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
An audit is a tool – not a test. Loss prevention audits should serve to make a store or other facility more efficient and more profitable, working with store teams and providing a means to train and develop the associates. It is vital that we approach our audit functions with the Read More
Inventory Control Job Description and Responsibilities
Functions included in an inventory control job description can vary based upon the work environment.
By Kelsey Seidler
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 Read More
By John Wilson
Everyone knows that the first rule of managing inventory shrink is being able to measure it. This means distinguishing between known and unknown loss and between malicious and non-malicious reasons for stock not being where it should be. And in an industry where loss prevention practitioners are increasingly more commercially Read More
This year’s holiday shopping season is expected to be strong, according to data released by the National Retail Federation (NRF). Retail sales during November and December are forecasted to be as high as $682 billion, a 4 percent increase from last year.
The picture isn’t entirely rosy, however. The NRF’s 2017 Read More
By Frank Devlin
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 the Read More