Employee theft is a source of loss simply too costly to ignore, which is why loss prevention practitioners are always on the lookout for novel ways to prevent it. But what if the best theft-prevention tool wasn’t a security measure at all? What if you just paid your store associates Read More
Most retailers have adopted omni-channel strategies to meet consumers’ demand to browse or buy whenever and wherever they choose. But enabling everything from mobile point of sale (POS) to in-store pickup of online purchases has made inventory control and product logistics far more difficult.
The complex new retail environment is increasing Read More
Every so often, a simple idea catches the imagination, fervor, and engagement of a group of people and is developed into a successful practice that revolutionizes a business. Electronic article surveillance (EAS) source tagging is definitely one of those.
This story commemorates the evolution of source tagging with The Home Depot Read More
At any given time, even the most casual Google search for “retail robberies” will return pages and pages of recent news items—some recounting thieves’ success; others, their failure. Read More
“What is the single most important measure of the success or failure of your company’s loss prevention efforts?”
If you were to ask senior retail executives this question, the answer you would likely hear is, “Our shrinkage results.” This would not be surprising, as shrinkage affects profitability, shareholder return, resource allocation Read More
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
Chances are, you’re heard someone say “sales cure shrink” or they plan to “outsell their retail shrink.” When this statement is used, the person uttering the words often has no idea what they are saying. Because of this, it’s easy to dismiss this statement. After a while, it may even Read More
“Great ideas are worthless unless they are put into practice.”
Most, if not all, of us have experienced this maxim time and time again in our business careers. We have a brilliant plan that will significantly reduce shortage, improve efficiencies, and increase safety of our employees and customers. There is just one problem: we Read More
Loss prevention associates are measured and evaluated against the organization’s expectations in a variety of areas. LP managers are ranked based on shrinkage numbers, cash handling in the store, internal and external apprehensions, plus asset recovery, to mention but a few. Many of these tasks are easily measured, while others are Read More
While the annual shrinkage surveys covering retail loss prevention go some way in offering an oversight as to how the industry is thinking about a range of issues, they rarely delve into much detail around specific topics. The purpose of this series of benchmarking surveys is to provide the LP Read More