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While the new “anti-establishment” world is rejecting globalization, will retail CCTV technology integration provide the panacea to retail risks?
RFID technology allows companies to know where in their process any particular asset is, so they can monitor the speed of production, the time of delivery, or any other factor that will help them to see how long their processes actually take—and control assets by knowing where they are at any point in time.
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.
In one experiment, Barry Manilow music was broadcast through loudspeakers located in a local parking lot every night between 9 pm and midnight on Friday, Saturday, and Sunday.
Throughout my career, I've investigated numerous significant increases in shortage on a multi-store level. In each case, the cause was traced to the distribution process.
At first, this may seem like an issue that involves only the retailer. However, the decision to ignore generally accepted cash and merchandise controls has far-reaching implications.
The crime of shoplifting is as old as shopping itself. The first documented cases of shoplifting took place in 16th-century London and involved groups of men called “lifters” (early organized retail crime?).
At some point in your retail loss prevention career, if you haven’t done so already, you will be called upon to help make procurement decisions on new technology, such as electronic article surveillance (EAS) or video surveillance.
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.
According to a survey by SDR/LPM, loss prevention executives are more likely than security counterparts in other industries to believe that a pilot study or field test is an effective way to show senior management that a project is a good idea.