Tag: retail shrinkage
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.
What Causes Shrinkage in Retail? Addressing the 4 Top Causes
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.
How Well Do You Know These Essential Inventory Control Techniques?
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.
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.
Partnering Science, Data, and Asset Protection to Tackle Retail Shrink
Over the course of the past half year, we have been working closely with The Kroger Co. and the asset protection team utilizing analytics...
What’s Driving the Latest Retail Shrinkage Rates in the United States and Beyond?
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?
Offenders Adapt; So Must We
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...
Analyzing Employee Theft Statistics from a Specialty Retailer
When I was a doctoral graduate student at the University of Minnesota during the late 1970s, I began conducting research on employee theft. At...
Change Isnt Just Something You Carry in Your Pocket
Here we are again quickly making our way to the midpoint of another year. And while we may realize that time wont stand still...
Calculating the ROI of Loss Prevention Solutions
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...