The bedrock upon which healthy retailers are built is the supply chain that provides the goods to be sold. A retailer’s competitiveness, then, or lack thereof, is in measurable part a reflection of the extent to which these avenues of supply are cost effective and efficient.
Few things are as frustrating for a loss prevention leader than discovering a bad packaging design they know will promote retail shrink— a feature which could easily have been prevented.
Not every loss prevention tool fits the needs and budget of every retailer. However, a combination of tactics makes an impact and reduces a store's shrinkage.
Solutions to address theft and loss are often led from the retailer side of the partnership, but manufacturers do face responsibilities when it comes to product protection. From manufacturer to retailer, product protection is everyone's job.
In a world where opposites attract, denial of service could be a force for good and put to commercial use, particularly in retail where organized retail crime gangs and opportunist thieves have had a free hand at disrupting legitimate business.
The ECR Community Shrinkage and On-shelf Availability Group had become aware of growing concerns about the losses relating to the sale of grocery store magazines and newspapers in the UK—a category not normally associated with high levels of loss.
In a study presented at a 2017 conference on business innovations, mobile self-checkout solutions were found to provide a more time efficient shopping experience, particularly when stores are crowded.
Too often, there is a failure to acknowledge achievements during the audit process, which as a result tends to emphasize a negative undertone. This tendency can and will influence the entire process.
“We all know what we have to do together to reduce food waste, but it’s not happening.”
Between the physical and online space, ever-diminishing timelines, and the possibilities of pinpointing stock on its return journey (the so-called reverse logistics model), you have all the ingredients for a parallel universe where nothing is quite what it seems.