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 Read More
Tag: loss prevention business
By Liz Martinez
Writing an incident report clearly and concisely is a critical skill for any business professional. In loss prevention, we use reports as part of the investigative process. They help us to evaluate workplace safety situations and crisis management performance. They are used to present facts, develop skills, and manage situations. Read More
What is the role of retail loss prevention? What may seem to be a simple question has grown increasingly more complicated as various functions, philosophies, tasks, and responsibilities are debated by the LP community, those who we serve, those who support us in meeting our goals, and those outside the Read More
Some call it the initial sniff test. Others use a less-flattering term to describe it. It’s your initial gut reaction to a new, unresearched idea. Does your instinct say “yea” or “nay?” In many business contexts, million-dollar decisions – including loss prevention decisions – are made with no further deliberation.
Now, Read More
“So, what do you do?”
This is common question that for some loss prevention professionals presents a perplexing set of thoughts. “How do I adequately satisfy the inquirer’s request, without overcomplicating the dialogue?”
At a retail event, the response “loss prevention” is sufficient, or maybe “asset protection,” depending on the retailer. At Read More
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
Over the past few years, the mantra of “doing more with less” has become so ingrained in corporate and business jargon that it goes unchallenged, unquestioned, and accepted as a legitimate business strategy. It is almost impossible to pick up a business publication, a newspaper, or read an industry blog Read More
Establishing a professional growth plan is as much an exercise in self-reflection as it is a process of setting and reaching professional goals. Rebecca “Becky” Halstead is a retired U.S. Army Brigadier General. She is the first general officer from her graduating class, the first female graduate of West Point Read More
Inventory Shrinkage: The 2014-2015 Global Retail Theft Barometer
Now available on demand by clicking here.
Inventory shrinkage costs $123.4 billion dollars to retailers globally, and that, in turn, costs the average U.S. household approximately $335 dollars each year. The 2014 – 2015 Global Retail Theft Barometer, carried out by the Smart Cube Read More
By James Lee
EDITOR’S NOTE: Kathleen Smith, CFI, is vice president of loss prevention for Safeway where she is responsible for security and loss prevention for over 1,800 stores in the U.S.and Canada, thirty-three manufacturing facilities, twenty warehouse facilities, and buying offices worldwide.
With over thirty years of security management and law enforcement experience, Read More