Tag: shrink reduction
What Is Supply-Chain Management?
Retail doesn’t start and stop at the front door of our stores. Ultimately, our value depends on our ability to broaden our influence while protecting every aspect of the business enterprise, including the supply chain.
How to Perform An In-Store Audit That Will Guide and Motivate Improved Performance
The three major causes that contribute to inventory shrink in any retail operation are internal theft, external theft, and operational compliance. An effective loss prevention program must focus on all three of these areas.
To Stop or Not to Stop the Shoplifter: Is This Still a Question?
Am I sure that he is attempting to steal this merchandise? "Yes, I am sure."
The Blurring Lines between ORC and Cyber Crime
In 2003, the Loss Prevention Research Council (LPRC) worked on a three-year international research project with the University of Leicester, UK. The research was...
Managing Grocery Store Shrink Begins with Problem Identification
One question I have been asked frequently is, “How did you know how to battle retail shrink in the grocery business, especially considering your...
A Culture of Innovation
Savvy leaders shape the cultures of their departments to drive innovation. They know that culture—the values, norms, unconscious messages, and subtle behaviors of leaders...
Taking a Data-Centric Role to Add Value to Your Company
EDITOR'S NOTE: Dan Faketty is vice president of asset protection for Southeastern Grocers based in Jacksonville, Florida. Prior to moving into a leadership role...
The 11 Habits of Low-Inventory Shrink Retailers
In his bestselling book, The 7 Habits of Highly Effective People, Stephen Covey presented a holistic, principle-based approach for solving personal and professional problems....
Bad Packaging Design Can Lead to Shrink
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...
Start with a Good Cause: Loss Prevention Strategy Examples
In today's retail business environment, everyone is seeking a competitive advantage. It could be in technology, people, business practices, or newly developed programs. The...