Tag: retail industry
Let’s Keep It Safe: Fatigue, Pain, and Loss of Productivity in the Retail Workplace
Workplace fatigue is a condition that all of us can face and must remain aware of as we move into retail’s most active season.
LPC and LPQ: Two Critical Loss Prevention Training Courses
Core competencies and standards of performance have been established by industry leadership and subject matter experts from across the retail loss prevention community to represent the needs and expectations of the profession.
NIOSH: The Science of Safety in the Workplace
Editor's Note: As we continue to work through the diverse challenges associated with the COVID-19 pandemic, it’s essential that all of us diligently explore...
How to Calculate Shrinkage in Retail
Understanding how to calculate shrinkage in retail is important. However, understanding why it is important to control these results and how we can impact company profitability by both improving sales and controlling retail shrinkage is the key to success.
How Well Do You Know These Essential Inventory Control Techniques?
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.
Combating Retail Shrink with AI: Two Case Studies
Whether you are an AI skeptic or an enthusiast, these real-life scenarios illustrate the impact of AI and IoT and demonstrate ways for the retail industry to reimagine their loss prevention strategies with advanced technologies.
Is Your Data Protected Against These 4 Risks?
According to the 2018 Cost of Data Breach study, the retail industry ranked fifth in frequency of data breaches. Since the dawn of the digital age, we've fought cyber pirates with tools like firewalls, encryption, strong passwords, antivirus software and white-hat hackers.
Shedding Light on Retail Theft Statistics
The NRSS indicates that shoplifting accounted for 35.7 percent of the reported shrink in 2017, which is down from 39.3 percent in 2016.
Solutions Snapshot: CONTROLTEK
For over 40 years, CONTROLTEK has been helping customers solve their business problems in new, efficient and secure ways.
How to Minimize the Cost of Cash with the Right Retail Cash Management Solution
As loss prevention professionals in retail businesses that serve this demographic en masse (i.e. QSR, c-store, big box, etc.) know all too well, cash is still a prominent form of payment.