Retail doesn’t start and stop at the front door of our stores. Ultimately, our value depends on our ability to broaden our influence while protecting every aspect of the business enterprise. What is supply-chain management? In essence, it’s a critical component of the retail machine. While we may view the heart of Read More
Tag: shrink reduction
A male shoplifting suspect has been coming into Store 153 three times a week for as long as anybody can remember. Store management has even attributed this guy as a major cause of the store’s shrink woes that have put them on the corporation’s “target store” list for the last Read More
Loss prevention departments have, for some time, successfully examined risk flags within point-of-sale (POS) transactions to identify exceptions that may indicate theft or loss. These risk flags, many of which decrease potential revenue, are increasingly categorized as SRAs or sales reducing activities. Today, monitoring SRAs to drive shrink reduction is Read More
By Dan Faketty
One question I have been asked frequently is, “How did you know how to battle retail shrink in the grocery business, especially considering your background is predominantly in discount retail?” My response to that question is almost always the same, which is: “I follow the loss prevention road map.” Often Read More
Area Asset Protection Leader, Big Lots, (GA)
Manages Asset Protection and Safety program activities designed to increase overall store profitability, reduce shrink and provide support to establish and maintain a safe and secure environment within stores in an assigned market. Conducts store visits and audits to support and evaluate operational compliance, Read More
Retail is a business, and businesses are in business to make money and enhance profits. But profit enhancement is a multifaceted concept. We build our profit base not only through our ability to sell products, but also by learning the best ways to approach shrink reduction in retail stores.
Historically, the Read More
By Chris Trlica
Organized retail crime (ORC) has been in the crosshairs of shrink reduction efforts for a long time now. But for many retailers, battling ORC has seemed less like a victory story and more like an arms race—for every stride made, the opposition adapts. Organized retail crime methods are a part of Read More
In a recent series of aricles, Bill Turner, contributing writer, has looked at the evolution of loss prevention since the inception of LP Magazine in 2001. (See Part 1, Part 2, and Part 3 of “Fifteen Years of Loss Prevention.”) In the May–June 2017 issue, Turner concludes the series by Read More
Owners, operators, and insurers of businesses, including commercial and residential properties of all types, take little solace in news reports that suggest a decline in the nation’s crime rate. The focus of their concern is more likely to be the growing volume of incidents of violent crime, diminished law enforcement Read More
When looking to protect their merchandise, retailers can choose from a number of electronic article surveillance (EAS) hard tag options, including in-store applied hard and alarming tags, factory-applied source/soft tag labels, and factory-applied hard tags (FAHT).
FAHT differ from in-store applied hard tags and factory-applied soft tags in several ways, depending on Read More