A retailer that doesn’t get a loss problem under control has a real problem. It bites into profit margins and pushes them closer to the brink. But a proactive asset protection strategy changes all of that. Read More
Supply Chain Security encompasses the strategic planning and management of the many functions involved in the protection of our products and other assets as they move throughout the supply-chain network.
The supply-chain network is a critical component of retail management; and while many view the heart of retail as the interactions and events that happen within the store, this support system has always fueled the way. Through a complex web of processes and activity, a well-managed supply chain is absolutely essential to a successful retail operation. Considering that every single piece of retail merchandise must in some way pass through the supply chain network, the need to implement appropriate controls and protect our interests as product moves throughout the network is a critical aspect of retail management.
Supply-chain security: No LP professional can afford to overlook it anymore. Start learning with our FREE Special Report, Supply-Chain Security: Trailer and Warehouse Theft, Investigations, and Loss Prevention Tips from the Experts right now!
The role of loss prevention across the supply chain has grown considerably in recent years, and continues to expand even today. The advancements in technology, the evolution of e-commerce and omni-channel retailing, and the mounting sophistication of retail crime will continue to revolutionize our role throughout the supply chain network.As this role grows more complex, our approach to the entire process must evolve as well. As a critical element of our overall programs, this function is much more sophisticated than making sure that doors are locked, keys are punched, and logs are signed; and that image and mentality must change to reflect the true nature of the security management process within the supply chain.
Efficient and effective supply-chain networks are necessary to successfully compete in the global retail market. This is a sophisticated, interdependent network of positions, processes, facilities, functions, responsibilities, tasks, transport, and technology that all culminates with delivering products and services to our customers.From a loss prevention management perspective, our attentions must then focus on disruptive risk. Any disruption in production or delivery will result in potential lost sales, decreased revenue, margin erosion, and profit loss.
Appropriate security plans must be designed to identify potential threats, evaluate how, when and where they may occur, develop effective approaches to mitigate losses, and build programs that improve efficiency and business recovery. Theft is certainly a primary consideration of supply-chain security efforts, but specific risks will vary depending on a variety of factors specific to the unique supply chain network. The potential risks must be identified and analyzed at each point along the network, building the plan that serves as the cornerstone of supply chain resiliency.
For the past five years, CargoNet has reported a rise in cargo theft incidents over the Labor Day holiday (reported as the Thursday before to the Wednesday after). California leads in reported incidents, followed by New Jersey and Texas. Read More
Retailers are feeling more confident these days—but danger still lurks. One significant area of concern is contractor / supply-chain security issues. US retailers think partners present a greater insider threat than ordinary retail employees, according to the survey. Read More
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, including the supply chain. Read More
Retailers often ask, “Why should I care so much about preventing thefts when I don’t own the merchandise until you deliver it?” The answer is because you, the retailer, stand to lose the most. Read More
Cargo theft has a negative financial impact on shipping companies, state and local governments, insurance companies, retailers and even consumers. It is far from a victimless crime; in fact, the impact of stolen cargo reaches much further than many people realize. Read More
Loss prevention must provide effective oversight in order to keep these operations effective and productive. Here are a few things to consider when building an effective relationship with the third-party logistics provider. Read More
Envision the following scenario. You are at home around 8:15 at night watching television with your wife or kids when the phone rings. The caller is one of your regional LP managers in the Southeast. He tells you that you just had a tractor load of high-end apparel worth $2 million Read More
Supply-chain security: No LP pro can afford to overlook it anymore. Start learning with our FREE Special Report, Trailer and Warehouse Theft: Cargo Theft Security, Investigations, and Prevention Tips from the Experts