You are driving to work as a supermarket supply-chain manager. The hot weekend weather has continued, it’s a lovely Monday morning, yet you’re surprised when your boss calls so early. Agitated, he shares how he just discovered from the CEO that all stores were reporting a massive sales loss because Read More
Tag: shrinkage control
Retail shrinkage stems from a handful of causes that are rarely unique to a single retailer. Theft, whether internal or external, and operational error make up the majority of retail shrinkage. The level of severity is usually the primary difference; this can fluctuate due to product type, geography, and store Read More
By Chris Trlica
While the perception of shrinkage among the loss prevention industry has evolved from thinking about loss strictly in terms of theft to the consideration of all causes of inventory discrepancy, this change in approach hasn’t necessarily diffused into all of the other teams in a retail organization. Retail buyers are 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
In the generally unyielding area of retail loss prevention, few U.S. corporations have been highly successful in staunching the pervasive problem of inventory shrinkage—the problem that refuses to go away. This article highlights nine key shrinkage control approaches that could potentially save U.S. retailing billions each year.
For retail loss prevention practitioners across Read More
Over 1.2 million shoplifters and dishonest employees were apprehended in 2015 by just 25 large retailers who recovered over $200 million from these thieves, according to the 28th Annual Retail Theft Survey conducted by Jack L. Hayes International, the leading loss prevention and inventory shrinkage control consulting firm.
“Retail theft, by both shoplifters and Read More
By LPM Admin
Several companies are currently seeking to hire loss prevention agents around the country. LP agents, also known as loss prevention officers or store detectives, are generally responsible for preventing shoplifting, fraud and vandalism, as well as ensuring the safety and security of shoppers.
LP agents, unlike security guards, do not wear Read More
27th Annual Retail Theft Survey Reports Over 1.2 Million Shoplifters and Dishonest Employees are Apprehended by Just 25 Large U.S. Retailers in 2014
Over 1.2 million shoplifters and dishonest employees were apprehended in 2014 by just 25 large retailers who recovered over $225 million from these thieves, according to the 27th Annual Retail Theft Survey conducted by Jack L. Hayes International, the leading loss prevention and inventory shrinkage control consulting firm.
“Something has to Read More
Four major retailers discovered that reducing losses in their distribution centers (DCs) boiled down to one primary challenge—getting associates to take responsibility and accountability for inventory losses, as well as for health and safety in the workplace.
Working closely with management, each DC took a good, hard look at its existing Read More