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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.
At first, this may seem like an issue that involves only the retailer. However, the decision to ignore generally accepted cash and merchandise controls has far-reaching implications.
Solutions to address theft and loss are often led from the retailer side of the partnership, but manufacturers do face responsibilities when it comes to product protection. From manufacturer to retailer, product protection is everyone's job.
The retail model of a store like Goodwill is a unique one. When you're faced with handling loss prevention in an environment that accepts and sells donated goods—where traditional inventory tracking is a foreign concept—it can present some unusual challenges.
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...
Security committees can be useful to loss prevention departments by formalizing the role that staff plays in preventing theft and promoting security. The strategy may also broaden responsibility for asset protection and integrate it into everyday store operations.
Academics who examine crime and security-related issues aren’t always seeking practical solutions, but some recent research studies have pragmatic applications and impart actionable advice on relevant LP issues.
Cargo theft has a negative financial impact on shipping companies, state and local governments, insurance companies, retailers and even consumers. It is far from a victimless crime; in fact, the impact of stolen cargo reaches much further than many people realize.
Solutions to address theft and loss are often led from the retailer side of the partnership, but manufacturers do face responsibilities when it comes to product protection.
As technological advances have occurred in other domains such as computer science, the realm of capabilities in our LP/AP world has exploded. However, all too often, there is a willingness to believe that technology offers a panacea.
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