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. Read More
Tag: inventory control manager
If you work in inventory control, your job description likely includes some combination of the responsibilities described in this post. Read More
Contemporary loss prevention professionals still maintain responsibility for retail security. But they also must handle employee theft issues, data protection, safety and risk management, inventory audits, legal compliance, and matters related to organized retail crime and fraud. Read More
As online-only retailers continue to see expanded success, traditional brick-and-mortar stores must turn to new strategies to keep up with customer demand. Today’s retail environment demands that the customer shopping journey be a seamless one as it transitions from a physical store to a smartphone app to an interactive catalog (or Read More
By Glenn Master
If you grew up in the 1970s, you may remember the popular public-service announcement for parents that asked, “It’s 10 p.m. Do you know where your child is?” The statement seemed almost nonsensical, but it shared an important message for parents to ensure that they always make a conscious effort Read More
It is a common misbelief among shoplifters that an individual must exit the store with unpurchased merchandise before being civilly liable for statutory civil damages. It is also a common misbelief among those shoplifters that if the merchandise is not physically damaged, they would not be liable for civil damages.The Read More
Most retail companies have a department dedicated to maintaining processes and procedures related to inventory management and retail shrinkage. The inventory control department ensures that optimum inventory levels of products are available and accessible to the stores; that stock levels/turnover are efficiently managed; that inventory is maintained in a safe Read More
By Chris Batson
Distribution center loss prevention provides a unique challenge to the industry. As with all LP programs, the distribution center loss prevention team is tasked with reduction of shrink and generating a sufficient return on investment to justify their programs.
Given the growing investment in supply chain inventory management, how does a distribution Read More
Understanding how to calculate shrinkage in retail is a fundamental but critical concept within the loss prevention profession as well as throughout the retail industry. Ultimately, retail shrink results in lost profits and can have a dramatic impact on the success of the retail enterprise.
The term “retail shrink” or “retail Read More