Home Tags Retail shrink
Tag: retail shrink
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.
Since its introduction in 2016, the Total Retail Loss concept has received critical acclaim across the globe, stimulated debate about what constitutes retail “loss,” and discussion about what the future role of the LP function might be. New research addressed how it has been implemented, its effectiveness, and what changes to the theory are required.
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.
The bedrock upon which healthy retailers are built is the supply chain that provides the goods to be sold. A retailer’s competitiveness, then, or lack thereof, is in measurable part a reflection of the extent to which these avenues of supply are cost effective and efficient.
2019 is in high gear, and we're just getting started. Let LPM help you find your next networking opportunity, retail technology expo, or training course.
Few things are as frustrating for a loss prevention leader than discovering a bad packaging design they know will promote retail shrink— a feature which could easily have been prevented.
Solution providers offer a wide spectrum of mission-critical products and services designed to help meet the rising demands of the asset protection function and...
Happy New Year! This is the time of year when everyone's getting organized for 2019. Let LPM help you find your next networking opportunity, retail technology expo, or training course.
Does your loss prevention department have a data scientist on the team? Chances are, you don't, but it's not a bad idea to start thinking like one.