Retail inventory shrinkage (or just “shrink”) is the loss of goods due to theft, damage, or errors in a store’s stock records. It creates a gap between the inventory a store should have and what is actually available, leading to lost sales and reduced profits. Shrinkage can result from shoplifting, employee theft, mishandling, or administrative mistakes. Retailers combat shrinkage through security measures, staff training, and precise inventory tracking to safeguard their revenue.
In this white paper, Michael Leithner, retail loss prevention specialist at TransUnion, explores how the right tools can transform data into actionable insights that retail loss prevention teams can use to fight fraud and reduce shrink.
In this Sensormatic and LPF webinar, a team of retail professionals discussed their ideas and proactive strategies to tackle hot topic issues such as internal shrink, ORC and return fraud; all while keeping consumer expectations and safety in mind.
While often expected and sometimes necessary to drive the business forward, markdowns still impact the bottom line, especially when considering the unbudgeted, store-initiated markdowns generated to mitigate aging or excessive inventory.
Download this 34-page special report from Loss Prevention Magazine about types and frequency of violent incidents, impacts on employees and customers, effectiveness of tools and training, and much more.