Loss Prevention Articles
What Type of Leader Do You Have?
The one thing that we can always totally control within our work environments is the type of leader we are. No matter what challenges are thrown at us, or what obstacles we are expected to overcome, we can still be the inspirational leader that our people need and everyone hopes to have. Unfortunately, we do not have this same control over who we are given as a leader for ourselves.
Basic Steps For Profit Improvement
In order to remain viable, every business must successfully execute a number of critical factors including creating brand loyalty, generating sales, controlling expenses, and effectively dealing with all aspects of loss. One significant area of loss that businesses face everyday is theft, both internal and external. Whether large or small, a businesses ability to effectively control this area of profit drain can make the difference between the success and failure of the entire business. This article will address some basic, yet very important, steps that every business can easily implement in order to lower their exposure to theft.
Leadership: The Sam Walton Way
Numerous books have been written about leadership and what separates good leaders from great leaders. Many are authored by the heads of successful enterprises and summarize the "formulas" they believe contributed to their own successes.
The problem is that, as readers, we have a greater desire to seek validation of our current leadership styles than to seek a road map for growth and change.
Shrinkage: Are You Too Accepting Of Losses?
The processes that have historically been employed to control retail shrinkage losses are, to a great degree, consistent between companies. These include basic controls over the receiving and handling of merchandise, theft deterrent measures, and aggressive internal audit and loss prevention programs that verify compliance with policies and react quickly to exceptions.
If there is a fair amount of consistency between approaches taken to reduce shrinkage, why are the results achieved by various retailers so different?
Want To Know What’s Causing Your Shrink? Just Ask!
The overriding question for every Loss Prevention Professional is “What's causing my shrinkage?” It's the beginning point for developing programs and processes to correct the problem and hourly associates are an often overlooked resource for answering the question.
Maximizing ROI On Your Closed Circuit (CCTV) Investment
Recent improvements in the cost and quality of Closed Circuit Television (CCTV) Systems have made them an affordable and effective tool against shoplifting and internal theft. Increasingly companies are discovering that their CCTV investment provides a continuous return well beyond their original ROI expectations. However, these returns can vary significantly depending upon the effort put into maximizing the system’s performance and effectiveness.
Securing Support for LP Initiatives in Difficult Economic Times
Conventional thought might be that tough economic times within the retail environment will very likely bring demands for reductions in Loss Prevention programs and initiatives from Senior Management. It is clear that these periods will certainly cause every business expense to undergo increased scrutiny—Loss Prevention related expenses included. While these times are to be expected in any business model which is dependent on the current economic comfort level of their customer base, they provide unique opportunities for Loss Prevention executives to show their leadership within the business.
Loss Prevention NOT Sales Prevention
To work effetively within your organization become a Student of the Business
Over the years, progressive Loss Prevention/Assets Protection Divisions have had to sometimes overcome a perception, particularly with the Operations and Merchandising groups, that their role in protecting merchandise from loss would be more appropriately termed “Sales Prevention.” In this article, I will address how this perception develops and what must be done to correct it.
Selling Your Programs To Senior Management
Loss Prevention Professionals face an ever-changing set of challenges each day along with unanticipated events that propel themselves to the top of our to-do lists and overshadow everything we had hoped to accomplish. While these challenges are part of the excitement of our profession, their impact on our approach to day-to-day business must be understood.