Tag: loss prevention program
At first, this may seem like an issue that involves only the retailer. However, the decision to ignore generally accepted cash and merchandise controls has far-reaching implications. Read More
Implementing an effective loss prevention department can be a challenging undertaking in today’s retail environment. With the multitude of different business priorities, increased workloads, budget limitations, turnover issues, technological considerations, corporate agendas, and the many competitive aspects of the organizational landscape, our ability to find a formula for success is tested Read More
In many professional fields, such as legal, technology, and finance, one can expect to find commonalities among the practitioners. These professionals share certain certifications or degrees, or they’ve progressed through a series of common steps or training regimens to reach their current position, where they share a fairly standard reporting Read More
Policies and operations may be the foundation of a loss prevention strategy, but it takes significant cultural change, input from all levels of employees, and a collective effort on behalf of all departments to ultimately have a positive effect on reducing shrinkage. No single employee or department can combat this 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
A few years back, I was asked to conduct my first telephone-based loss prevention interview with an hourly employee. He was suspected of merchandise theft, and my supervisor insisted that I conduct the interview over the phone as the suspect was 800 miles away in another state, and the case Read More
According to Kevin Valentine, CFI, LPC, who retired at the end of 2017 as the senior vice president of internal audit, loss prevention, and enterprise risk management for Signet Jewelers, it’s pretty rewarding.
Signet’s claim as the world’s largest retailer of diamond jewelry stems from its overall sales volume and the Read More