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One benefit of implementing the new surveillance system was how it eliminated “blind spots” within stores, such as inside a walk-in beer cooler, which made it easy to prevent theft and catch thieves, according to Harrison.
Not every loss prevention tool fits the needs and budget of every retailer. However, a combination of tactics makes an impact and reduces a store's shrinkage.
From a loss prevention perspective, a strong understanding of how our inventory is managed is crucial as we attempt to resolve shrink-related issues. One basic but important component is knowing the inventory control techniques and accounting methods used by your company.
After a long career in loss prevention, including twenty-six years at Best Buy, Paul Stone, CFE, LPC, is now experiencing unparalleled results. Tempted out...
You are driving to work as a supermarket supply-chain manager. The hot weekend weather has continued, it’s a lovely Monday morning, yet you’re surprised when your boss calls so early. Agitated, he shares how he just discovered from the CEO that all stores were reporting a massive sales loss because they had sold out of strawberries.
Am I sure that he is attempting to steal this merchandise? "Yes, I am sure."
One question I have been asked frequently is, “How did you know how to battle retail shrink in the grocery business, especially considering your...
While many things about this family-owned business have changed since its founding in 1973, the need to keep a close eye on each location’s inventory hasn’t.
Data is the future of the loss prevention and asset protection industry. A single, data-friendly LP professional can both identify and address leading indicators...