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. Read More
Tag: retail 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. Read More
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. Read More
Over the course of the past half year, we have been working closely with The Kroger Co. and the asset protection team utilizing analytics to drive insights from data that lead to better overall understanding and decisions regarding a problem common to the entire retail industry—retail shrinkage, or shrink.
The produce Read More
How can US retail shrinkage rates be so high, when the United States ranks in the top five countries in terms of investment in loss prevention technology? Read More
Whoa, what’s that?! No way. That’s a reaction we want from would-be offenders when thinking about initiating a crime attempt on our property.
We’re often told to adjust, adapt, and overcome as we grow up. Life comes at us fast and from a lot of angles. So part of our hardwiring Read More
When I was a doctoral graduate student at the University of Minnesota during the late 1970s, I began conducting research on employee theft. At the time this was an area of criminology that was virtually unexplored. I found that it was hard to study this subject then, since few retailers Read More
Here we are again quickly making our way to the midpoint of another year. And while we may realize that time wont stand still for any of us, its still difficult to come to terms with how quickly it can move by.
Were once again in the midst of conference season, Read More
Over the past 25 years, return on investment, profit center, cost center, and value-added have become significant buzzwords in the loss prevention industry. While not unique to our industry–these concepts are also important in other staff functions, such as information technology and finance–I can’t imagine ROI has gotten any more attention than Read More
Retail shrinkage stems from a handful of causes that are rarely unique to a single retailer. Theft, whether internal or external, and operational error make up the majority of retail shrinkage. The level of severity is usually the primary difference; this can fluctuate due to product type, geography, and store Read More