Tag: inventory theory
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
By Adrian Beck
There is little consensus on what constitutes “loss” within the retail world nor how it should be measured. The terms “shrinkage” and “shortage” have been loosely applied to encapsulate some of the areas that generate loss, but they are not terms enjoying a clear and agreed-upon definition across the sector. 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 Nick Arenas
Restaurant employees can hurt profitability in a variety of different ways. Rarely is restaurant theft as simple as taking money from the cash register. Given that restaurants operate on incredibly narrow margins, it is important to identify and reduce the opportunities for employee theft. Here are five common ways in which Read More
When looking to protect their merchandise, retailers can choose from a number of electronic article surveillance (EAS) hard tag options, including in-store applied hard and alarming tags, factory-applied source/soft tag labels, and factory-applied hard tags (FAHT).
FAHT differ from in-store applied hard tags and factory-applied soft tags in several ways, depending on Read More
Theft Takes a Toll on Retailers’ Bottom-Line Profits, According to Jack L. Hayes International’s 29th Annual Retail Theft Survey
Over 438,000 shoplifters and dishonest employees were apprehended in 2016 by just 23 large retailers who recovered over $120 million from these thieves, according to the 29th Annual Retail Theft Survey conducted by Jack L. Hayes International, the leading loss prevention and inventory shrinkage control consulting firm.
“In 2016, dishonest employee Read More
For retailers of high-end consumer electronics such as smartphones, tablets, e-readers, drones, digital cameras, and fitness watches, the customer’s retail experience can be just as important as loss prevention. Often, the look, feel, and performance of the product on display in store, including the ability to interact and fully experience Read More