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
Tag: retail shrinkage
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
Most retail companies have a department dedicated to maintaining processes and procedures related to inventory management and retail shrinkage. The inventory control department ensures that optimum inventory levels of products are available and accessible to the stores; that stock levels/turnover are efficiently managed; that inventory is maintained in a safe Read More
Understanding how to calculate shrinkage in retail is a fundamental but critical concept within the loss prevention profession as well as throughout the retail industry. Ultimately, retail shrink results in lost profits and can have a dramatic impact on the success of the retail enterprise.
The term “retail shrink” or “retail 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
How to Calculate Shrinkage in Retail
Understanding how to calculate shrinkage in retail is a fundamental but critical concept within the loss prevention profession as well as throughout the retail industry. Ultimately, retail shrink directly results in lost profits, and can have a dramatic impact on the success of the retail Read More