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
Tag: point of sale
Deep inside the data warehouses of companies across the world, billions of dollars are trapped in the subtle variations between the binary 0s and 1s that make up fraud and loss prevention data.
For Retail Industry Leaders Association (RILA) asset protection conference in 2014, JCPenney approached the University of Texas at Read More
A credit card skimmer is a device by which thieves and fraudsters steal credit card information. Often, these theft events will occur in the retail setting, but there are other ways by which the devices can be used to steal information from card owners for criminal purposes. Unfortunately, all it Read More
One of the modern miracles of retail is the ability to get the right merchandise, in high volume, and across vast distances, either into point-of-sale locations or the customer’s doorstep within a matter of days, if not hours. Enter the distribution center: often an enormous building with hundreds of employees, Read More
Prior to 2012, Bloomingdale’s was doing what most retail organizations do when it comes to retail loss prevention training and safety education—relying on a number of standard approaches like posters, classroom training, huddles, and pre-shift morning rallies. But these approaches just weren’t working.
As I contemplated this situation, I realized we Read More
By Dan Faketty
I remember walking into the office for the first time. A new company, a new position, a new city. The size of the building and the sophistication of the other associates were somewhat intimidating.
I arrived at 6:00 a.m. sharp to make a good first impression. Soon it was time to Read More
What is the latest employee theft scam putting a dent in the profits of your retail organization? Think about any recent changes. Maybe you’ve implemented a new cash management protocol, or a new loyalty program, or a new tabletop payment system. Regardless of what your stores have recently done to Read More
By Dave DiSilva
The Case of the CFO’s Family Photo
I was recruited to a startup thirty-store retailer to launch their first loss prevention program. My supervisor, the CFO, was a seasoned no-nonsense retailer. Our very first meeting started with typical small talk when I noticed a picture placed prominently on his desk. The Read More
EDITOR’S NOTE: Kevin Valentine, CFI, LPC, retired at the end of 2017 as senior vice president of internal audit, loss prevention, and enterprise risk management for Signet Jewelers. He spent more than thirty-five years with the company in various management roles. During his career, Valentine was active in the loss Read More