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In the 1970s and 1980s, service in law enforcement was the required foundational experience for most loss prevention leaders. Today, the ability to collaborate with business partners has become the most important competency. The retail industry has begun to require more diversified LP skills.
While there are famous cases of psychopathic individuals committing crimes, the majority of criminals have a conscience that’s functioning just fine. Without deploying careful defense mechanisms, the cognitive dissonance caused by their guilt would eat them alive
Whatever your core values are, the old truism remains accurate: employees don’t turn to statements on the company website to look for clues on how to behave; they look to each other.
Process loss is a general term that describes inefficient problem-solving in groups. Psychologists found that groups tend to focus on the information that they have in common, rather than their specialized knowledge.
There is no agreed-upon definition of what constitutes "shrinkage." Most estimates are based only upon measures of merchandise losses where the cause is unknown. The total retail loss concept offers a new definition of loss.
How are shoplifting and other retail shrink concerns managed in retail stores with no loss prevention team?
In the highly competitive retail sector, ensuring that the right product is on the right shelf at the right time is critical. Yet the problem of shelf out-of-stocks (OOS) remains as stubborn as ever. Could the LP team be the key to unlocking this new sales opportunity?
In his bestselling book, The 7 Habits of Highly Effective People, Stephen Covey presented a holistic, principle-based approach for solving personal and professional problems....
Many have taken issue with the video’s depiction of how the loss prevention representative handled the situation, accusing him of being too rough with the juvenile. Others are defending the loss prevention representative’s actions as warranted given the circumstances. See the survey results.
In the digital era, information protection has become a top priority across all industries. The retail industry is no exception.