As loss prevention professionals in retail businesses that serve this demographic en masse (i.e. QSR, c-store, big box, etc.) know all too well, cash is still a prominent form of payment. Read More
Tag: tips for loss prevention officers
I am constantly on the lookout for research studies conducted on the subject of theft by employees.
A few years ago, I came across a study conducted by Kessler International, a forensic accounting and investigative firm. In a press release from 2013, I found that Kessler had conducted an anonymous survey Read More
Booster bags, or so-called “magic bags,” continue to be one of the more popular shoplifting methods used by professional thieves. These foil-lined carriers work because the lining prevents the alarms actually connecting with the tag when passing through scanners. Despite penalties imposed on thieves for going equipped with these bags, Read More
In the 1970s and 1980s, service in local, state, and federal law enforcement was the required foundational experience for most loss prevention leaders. Today, the ability to collaborate with business partners has become the most important competency. The retail industry has begun to require more diversified loss prevention skills.
As theft Read More
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
Understanding how to calculate shrinkage in retail is a fundamental but critical concept within the loss prevention profession as well as throughout the retail industry. Ultimately, retail shrink results in lost profits and can have a dramatic impact on the success of the retail enterprise.
The term “retail shrink” or “retail Read More
In my opinion, there is one trait that all true leaders possess—and that is experience. It is experience that enables our careers in loss prevention to evolve, develop, and flourish. The faster you gain experience, the more quickly you will improve your leadership. One way to accelerate gaining experience is Read More
Contemporary loss prevention policies in the retail industry are a consequence of the so-called “litigation explosion” that dates back to the early to mid-1980s. Time was when a headlong pursuit through the parking lot and across heavily trafficked public roadways was a way of life. To many, it was exhilarating, Read More