What inventory management techniques are you unaware of? You’re in for a surprise.
Learn how to rethink your asset tracking and stock control methods in this FREE Special Report.
Dear LP Professional,
It’s not just about catching thieves.
The concept of “inventory shrinkage” once conjured up images of sneaky shoplifters and nefarious organized retail crime gangs. But if that’s all you’re chasing, you’re missing a huge chunk of the problem – and costing your company millions.
If you’d rather make loss prevention part of a profit center instead of a loss center – improving the bottom line for both your company and yourself – read on. The difference between a loss prevention career in a holding pattern and one that takes off is in this FREE Special Report from LP Magazine, Inventory Management Techniques: Rethinking Your Asset Tracking and Stock Control Methods. Download it FREE right now!
This FREE Report from LP Magazine – the premier provider of news, analysis and trends for the LP professional – is designed to help you …
- Understand the importance of shrink visibility
- Learn how to control retail shrink at every checkpoint
- Educate buyers as to how they might be able to help reduce shrink
- Identify the recent shifts in the sources of shrinkage and loss
- Advance your career by being an LP professional your company can count on to adapt
- Become a leader in your organization and in the industry
You might be prepared to pay handsomely for a Special Report that helps you do all this. Fortunately, you don’t have to … because Inventory Management Techniques: Rethinking Your Asset Tracking and Stock Control Methods is absolutely FREE.
Of course, you might be wondering about our own credentials. Why should you trust this Special Report from LP Magazine?
LP Magazine, formerly known as LossPrevention, was founded in 2001 by LP professionals to fill the void for news, information, and educational content for loss prevention professionals. Over the past decade and a half, LP Magazine has established itself as the premier voice of the LP industry,providing in-depth, timely articles for loss prevention professionals and retail management.
Our custom publishing arm also delivers education and training to retail organizations on critical loss prevention, safety, and operational policies and procedures. What’s more, we’re deeply involved in the training and certification provided by the Loss Prevention Foundation (more on that later), and we’re also aligned with our sister company, LPJobs.com, the leading retail security and loss prevention employment site on the web.
You can see that we live, sleep, eat and breathe loss prevention. So now that we’ve established our own credentials, let’s talk about enhancing yours …
What is inventory management? It’s disaster prevention.
Every year, loss prevention professionals like you are evaluated based at least in part on inventory shrinkage results. At best, poor shrinkage numbers negatively affect bonuses and department morale. At times, unacceptable results may even lead to dismissal.
That’s because merchandise that’s stolen or otherwise unaccounted impacts current sales, affects product replenishment – leading to customer frustration – and hurts future sales as well.
Naturally, this has a significant impact on the bottom line, and a direct influence on the health of any company. Every year shrink issues cost retail businesses tens of billions of dollars.
Certainly you’ll want to be the one who helps prevent such disasters.
Yet many companies and LP pros continue to think of retail shrink as the product of theft, whether by shoplifters, employees or external threats such as vendor fraud. So let me ask you: As an LP pro, are you addressing the real causes, or are you distracted by the wrong ones?
What methods are being used most often in today’s inventory management? In other words, what valuable solutions are you missing?
Today’s inventory management experts, many of whom we consulted for this Special Report, say that retail shrinkage is more difficult to detect and prevent due to the major disruptive forces in the retail industry (including online shopping, mobile retail, and others).
A key takeaway from this Special Report: A recent survey indicated that internal and external theft are the most significant contributors to shrink, accounting for 36.4 percent and 35.1 percent of the total, respectively. This marks a shift away from past trends where internal theft was once reported as notably higher than external theft, likely due to employee access to registers and inventory.
Leveraging data and analytics more effectively is critical for LP professionals who want to address risks that can impact profitability. Find out how other retailers are collecting and analyzing data to proactively tackle risks.
In this report, you’ll also learn about a dramatically different way of thinking about the concepts of retail loss and shrink, as put forth via a study by the Retail Industry Leaders Association (RILA) and the ECR Community Shrinkage and On-shelf Availability Group. The research features crucial insights gleaned from 100 face-to-face interviews with senior leadership at some of the biggest retailers in the United States.
This FREE report also delivers practical, real-world examples of ways retail buyers can themselves help reduce shrink, and how to work more closely with them. For example:
- Management of vendor relationships. Buyers are the primary company representatives who interact with vendors. They can and should therefore serve as intermediaries when LP needs to change something (such as product packaging) or make a vendor aware of an issue within a particular product category.
- Merchandising decisions. Buyers’ decisions about product placement can and do have a significant impact on theft and operational loss.
- Other examples identified in this Special Report include new product introduction, determination of product flow, and more.
Of course, once you’re convinced that retail shrink goes far beyond catching shoplifters, the question remains: What to do about it?
Why should you look more closely at these inventory management techniques? Because the capabilities of existing systems are being stretched too thin.
No Special Report like this would be worth its salt if it didn’t also deliver solutions to the problems it outlines. So how can you and your company address all of the shrinkage components with the right skills – and do so cost-effectively?
The answer: It’s all in leveraging the right tools and resources. And we don’t mean traditional tools like Microsoft Excel. We’re talking about sophisticated business information tools with exactly the right features that can uncover shrink in a dynamic, omni-channel environment.
This report tells you how to get the entire organization on board with the newly proposed definition and typology of the problem of loss. Did you know that no agreed-upon definition of “shrinkage” currently exists in the industry literature? The characteristics of the proposed typology of “total retail loss” are outlined in this free Special Report, so download it now and get the details!
Believe it or not, you, as a dedicated LP professional, can influence your entire company in your effort to identify and reduce retail shrink. This report shows you how. Among other things, you can…
- Ensure strong loss prevention leadership
- Prioritize the development of a new way to understand and measure loss
- Ensure that losses associated with online and omni-channel retailing can be measured and understood
- Keep loss on everybody’s agenda through various communication strategies
The bottom line is that you can not only reduce loss and save your company hundreds of thousands, if not millions, of dollars – you’ll also make yourself a much more valuable asset and a more successful LP professional. Learning these techniques can inform decisions that are in the interest of the business as a whole—and will put your career in overdrive.
Read this FREE Special Report today. Tomorrow you can begin enhancing your company’s profits and your own career.
Yours for a successful LP future,
PS: Do you realize that you can enhance your value to your company immediately after reading this report – simply by approaching management about your concerns? Start something big today. Download our FREE Special Report, Inventory Management Techniques: Rethinking Your Asset Tracking and Stock Control Methods..