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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.
RFID technology allows companies to know where in their process any particular asset is, so they can monitor the speed of production, the time of delivery, or any other factor that will help them to see how long their processes actually take—and control assets by knowing where they are at any point in time.
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.
Implementing targeted theft-deterrent strategies depends on consistent record-keeping, organization, and pattern recognition. A data-driven incident management process is the only way to keep pace with an extremely adaptable foe.
Retail doesn’t start and stop at the front door of our stores. Ultimately, our value depends on our ability to broaden our influence while protecting every aspect of the business enterprise, including the supply chain.
At a time when store margins are under intense competitive pressure, retail shrink can make or break a retailer's bottom line. But retail shrink numbers are vulnerable to blind spots and imprecise metrics.
If you work in inventory control, your job description likely includes some combination of the responsibilities described in this post.
When LP teams and buyers work together, a retail organization can reduce shrink through effective inventory management.
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...
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...