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: managing inventory
Loss prevention executives are contending with a slew of challenges—budgetary pressures chief among them—yet there is reason for optimism. Read More
Loss prevention team duties don’t stop at preventing theft or managing inventory shrink. As evidenced by some of the major news stories of recent years, tragedies and crises in retail are bound to happen–and LP must meet the challenge. Are you prepared?
It would be wise to assume that your competitors are ahead of you. They likely have fusion centers, not emergency operations centers. They are monitoring what Twitter is saying about your company and the crisis real-time. They know the crime trends in neighborhoods, not regions. They have fortified their fusion efforts to link crisis response to messaging with pre-populated statements and frequently asked questions. From a product recall to an industrial accident to a workplace violence incident, they have prepared beyond their peers. My hope is that you and your company move to that category of best practice sooner rather than later. Before 'it' happens to you.Read the full article, “See You in Court,” to learn how loss prevention may become "crisis central" in the event of a disaster, or check out the other articles in the January-February 2017 issue of LP Magazine. Not yet subscribed? No problem – register here for free.
The Chipotle Lesson, the Waffle House Index, and similar Read More
Loss prevention and asset protection practitioners know that their roles have shifted completely since the old days of catching shoplifters. These days, LP responsibilities can range from managing inventory to store safety and everything in between.
In his July-August 2016 feature article for LP Magazine, Johnny Custer, LPC, CFI, argues that Read More
Read Hayes, Ph.D., CPP, is the director of the Loss Prevention Research Council (LPRC) and coordinator of the Loss Prevention Research Team at the University of Florida in Gainesville. Hayes started his LP career with Robinsons of Florida before joining J. Byron’s, which later became Ross Stores. He left his LP Read More
By Jack Trlica
This is the time of year when loss prevention executives often bring their field team into corporate headquarters or a destination location to review the past year’s results and discuss the objectives for the coming year. It is both a celebration of the team’s and individuals’ successes, as well as Read More
“There are very few African-American men in this country who haven’t had the experience of being followed when they were shopping in a department store. That includes me.”
– President Barack Obama
How does it make you feel when you hear the President of the United States making these remarks about racial Read More
Every LP trade show we attended this year featured one or more presentations on data security. In this edition of the magazine, we are adding to the conversation with several articles.
The cover story entitled “Building a New Defense Team” features interviews with several experts who presented at the National Retail Read More
I am back in the saddle again after undergoing hip replacement surgery this past summer. That is why you did not see me at the National Retail Federation LP conference in San Diego in June, when I usually report preliminary shrinkage statistics. It is also the primary reason that the 2012 Read More
We are now in the process of completing the 2011 National Retail Security Survey (NRSS) Final Report for publication on the web. I presented some of these preliminary results at the National Retail Federation LP conference in New Orleans in June as the data collection was not yet complete. Since Read More