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Tag: inventory control accounting

reduce shrinkage

A Root-Cause Analysis May Help Reduce Shrinkage

As the industry transitions from bricks and mortar to “bricks and clicks,” the capabilities of existing systems are being stretched thin, and many retailers have not fully integrated the new technology required to manage loss and reduce shrinkage effectively in an omni-channel world.
employee monitoring

Does Employee Monitoring Technology Change Staff Behavior?

Does technology-based employee monitoring reduce misconduct? Does it dampen or enhance worker productivity? What do you think?
ORC Theft

ORC Theft Trends and Impact

A more effective way to attack this type of theft is to bring together retailers and law enforcement resources in order to share trends and case details.
Shrinkage Control, in-store audit

How to Perform An In-Store Audit That Will Guide and Motivate Improved Performance

The three major causes that contribute to inventory shrink in any retail operation are internal theft, external theft, and operational compliance. An effective loss prevention program must focus on all three of these areas.
Shoplifter Shoplifting and theft

To Stop or Not to Stop the Shoplifter: Is This Still a Question?

Am I sure that he is attempting to steal this merchandise? "Yes, I am sure."
retail industry, grocery store shrink

Managing Grocery Store Shrink Begins with Problem Identification

One question I have been asked frequently is, “How did you know how to battle retail shrink in the grocery business, especially considering your...
organized retail crime

How NOT to Investigate Organized Retail Crime

This post's findings are the result of more than thirty retail and law enforcement interviews expressly asking for opinions and thoughts on investigating ORC. It's from the archives, but its advice is timeless.
investigating theft in the workplace

The ABCs of Investigating Theft in the Workplace

Few core competencies are as important to senior loss prevention executives as a proficiency in theft investigations. Whether it is knowing when to initiate an investigation, how...
Interviewing, employee theft investigation

Are We the Liars? The Employee Theft Investigation and Getting an Admission at Any...

How do LP practitioners deal with the pressures of conducting internal theft interrogations in a forthright and honest way?What are the boundaries when it comes to obtaining an admission?
employee theft statistics

Analyzing Employee Theft Statistics from a Specialty Retailer

When I was a doctoral graduate student at the University of Minnesota during the late 1970s, I began conducting research on employee theft. At...
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