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How Well Do You Know These Essential Inventory Control Techniques?
From an LP perspective, a strong understanding of how retail inventory is managed is crucial to resolving shrink-related issues. One basic but important component is knowing the inventory control techniques and accounting methods used by your company. The two most common are the “retail” method and the “cost” method of accounting.
What Does a Loss Prevention Associate Do?
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.
Significant Inventory Loss Requires Perspective
Throughout my career, I've investigated numerous significant increases in shortage on a multi-store level. In each case, the cause was traced to the distribution process.
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.
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.
Inventory Control Job Description and Responsibilities
If you work in inventory control, your job description likely includes some combination of the responsibilities described in this post.
5 Omni-channel Retailing Examples in 2018
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...
Supply-Chain Management: It’s 10 pm. Do You Know Where Your Package Is?
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...
Does Concealment = Shoplifting?
It is a common misbelief among shoplifters that an individual must exit the store with unpurchased merchandise before being civilly liable for statutory civil...
Go Beyond the Basics with Your Distribution Center Loss Prevention Team
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...