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: tjx data breach
In the generally unyielding area of retail loss prevention, few US corporations have been highly successful in staunching the pervasive problem of inventory shrinkage—the problem that refuses to go away. This post highlights nine key shrinkage control approaches that could potentially save US retailing billions each year.
For retail loss prevention practitioners across Read More
When I was a doctoral graduate student at the University of Minnesota during the late 1970s, I began conducting research on employee theft. At the time this was an area of criminology that was virtually unexplored. I found that it was hard to study this subject then, since few retailers Read More
By Nick Arenas
Restaurant employees can hurt profitability in a variety of different ways. Rarely is restaurant theft as simple as taking money from the cash register. Given that restaurants operate on incredibly narrow margins, it is important to identify and reduce the opportunities for employee theft. Here are five common ways in which 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
What does inventory shrinkage mean to you?
For most companies, the answer to this question would be obvious: a significant problem, and usually something that is getting worse, not better, despite unprecedented developments in technological solutions and growing loss prevention budgets.
Some retail companies across the globe are gleaming examples of how Read More
Results from the 25th annual National Retail Security Survey (NRSS) were recently released at the National Retail Federation’s (NRF) PROTECT Conference, which was held in Philadelphia in June.
“The impact of shrinkage on the retail industry continues to be sizeable. With an average shrink rate of 1.38 percent, this cost the overall US retail economy $45.2 billion in 2015. While the shrinkage percentage is identical to last year’s study, the dollar impact has increased due to the growth in retail sales. The good news is that the shrinkage percentage reported during the past two years is the lowest ever observed in the history of the NRSS.”In the column, Hollinger also divulges the latest information about loss prevention budgets and hiring patterns:
“LP budgets remain flat as a percentage of sales. Unfortunately, most retail executives are still not satisfied with the resources they are being given to fight the war against retail loss. Nevertheless, the total number of LP personnel per $1 billion in sales did increase slightly from 32.47 in 2014 to 37.5 in 2015. As expected, most of the employment additions were in exempt positions; non-exempt employees declined slightly.”The survey was conducted in April in collaboration with the NRF. Eighty retailers participated in the study. NRF members can review the entire survey by logging into nrf.com/resources/retail-library/national-retail-security-survey-2016. Check out “2016 National Retail Security Survey Key Findings” to read the full column and discover current data surrounding shoplifting and dishonest employee trends, as well as plenty of other crucial information. You can also visit the Table of Contents for the July-August 2016 issue or register for a free subscription to the magazine.
In his Academic Viewpoint column for the July-August 2016 issue of LP Magazine, Richard Hollinger, Ph.D., reveals a number of key findings from Read More
Most parents understand the narrative of “bringing up baby”—the tiny first steps that, with nurturing and encouragement, turn into giant strides as the infant learns independence. When the parent is a retail behemoth with a reputation for uniformity, it is fair to assume that an old-school “one-size-fits-all” approach would become Read More
The 2016 National Retail Security Survey (NRSS) based on 2015 data from retailers was released at the recent National Retail Federation (NRF) PROTECT Conference held in Philadelphia. Now in its twenty-fifth year, the NRSS continues to be the bellwether survey that retail loss prevention executives use to compare themselves to Read More
Brand Elverson was the director of asset protection systems and analysis with Walmart when this interview first appeared in LP Magazine. He is currently the director of asset protection strategic initiatives at Walmart, and still deeply involved in the search for effective asset protection technology solutions.
EDITOR: Tell us about your Read More