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As loss prevention professionals in retail businesses that serve this demographic en masse (i.e. QSR, c-store, big box, etc.) know all too well, cash is still a prominent form of payment.
Experian has noted that credit card fraud is the most common form of personal financial fraud. Statistics say that 47 percent of adults in the United States have reported being victimized by a fraudulent purchase on their credit or debit card, and that percentage is predicted to rise.
We are pleased to recognize and congratulate these industry leaders who recently obtained certification. Despite their demanding schedules, they still saw the value and took the time to obtain this industry-leading credential.
Shoplifting is often viewed by professionals and amateur thieves as a low-risk versus high-reward business. As experts have documented, many shops and stores do not do enough to dissuade the rational criminal, who scans every environment for an opportunity.
In the 1970s and 1980s, service in law enforcement was the required foundational experience for most loss prevention leaders. Today, the ability to collaborate with business partners has become the most important competency. The retail industry has begun to require more diversified LP skills.
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.
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.
We all know that volunteering is a good thing for furthering our careers in loss prevention in terms of visibility to company leadership and demonstrating that you are willing to go above and beyond. However, many people who volunteer don’t truly participate.
The Loss Prevention Foundation is pleased to recognize and congratulate the following individuals who have successfully completed all of the requirements set forth by the board of directors to be LPQualified (LPQ) and/or LPCertified (LPC).
Retail mergers and acquisitions have the cumulative affect of raising the bar for top LP and security executives, suggests David Lammert, president of Pinnacle Placements, an executive search firm specializing in the security profession.