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Researching Your Inventory Results...

Posted on 7/30/14 10:16 AM

Deeper Analysis May Reveal Necessary Shifts in Target Programs

As the end of most retailers' fiscal year approaches, physical inventories will soon be scheduled, and year-end (or half year) inventory results calculated. Once completed, retailers will look to evaluate their results to determine how profitable both individual retail locations and their company as a whole were against inventory losses.

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PCI and Exception-Based Reporting

Posted on 7/22/14 11:30 AM

Protecting Report Integrity

While all retailers are now familiar with the Payment Card Industry (PCI) Data Security Standards (DSS), some are still working on how best to protect cardholder data within their exception based reporting (EBR) application. Ultimately, the answer on how this data will be protected may depend on company-wide decisions or chosen protection methods.  However, how your company chooses to protect the data may affect your ability to also effectively utilize reporting to detect exceptions.

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Topics: loss prevention

Discounting Violations of Employee Discounts

Posted on 7/15/14 11:30 AM

Should We Discount Violations of Employee Discounts?

If we were to shade a big gray area between "crime" and "policy violation," most assuredly we could name that swatch "the land of discount abuse." For retailers, especially loss prevention associates, discount abuse is at best a severe policy violation, and at worst a crime. However, that distinction is critical as it determines the outcome for the violator and represents the area where retailers are most likely to make inconsistent decisions.

If a retailer provides the benefit of employee discounts, then it is inevitable that investigations will arise on the abuse of that discount. Ultimately, corporate management will be looked to for guidance as to whether discount abuse is a policy violation or a crime. Knowing the answer in advance is critical to both the consistent resolution of these cases and in deterring associates from engaging in abuses of the company discount.

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Topics: loss prevention

Small Details Make a Big Difference

Posted on 7/10/14 11:30 AM

Deeper Analysis May Reveal Necessary Shifts in Target Programs

As the end of most retailers' fiscal year approaches, physical inventories will soon be scheduled, and year-end (or half year) inventory results calculated. Once completed, retailers will look to evaluate their results to determine how profitable both individual retail locations and their company as a whole were against inventory losses.

The de facto standard that most often determines a store's profitability against loss is the calculated percentage of dollars lost against sales dollars, or the shrink percentage. Most commonly, the shrink percentage is the singular measurement of performance of a location, as well as the only criterion used when judging whether a store should be part of a target store program.

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Topics: shrink awareness

10 Reasons Associates Are Not Productive and What To Do About It

Posted on 7/1/14 1:34 PM

Do you have a productivity problem?  Are associates having trouble getting all their work done? Is there a project that never seems to get finished, or something that hasn’t even been started? Does it seem it impossible for staff to cross everything off their “to do” lists?  Following are ten examples of possible causes – and suggested solutions.

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Topics: loss prevention, training and awareness, policies and procedures, train employees, educate, LP Innovations, career development, associates, productive

Loss Prevention and Dieting

Posted on 6/24/14 12:28 PM

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Topics: loss prevention development, loss prevention

Is Loss Prevention Bound By A Higher Level Of Integrity Than Others?

Posted on 6/17/14 1:39 PM

My son, soon to be entering University, has an interest in becoming a police officer, a noble pursuit that many of us probably contemplated early in our career path.  I have several friends that are police officers, so I thought it would be a good idea for us to have lunch with one and let him give my son a better understanding of law enforcement as a career choice.

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Topics: loss prevention

Who's In Charge Of Loss Prevention

Posted on 6/10/14 1:36 PM

There is a saying that “everyone has a boss.” In my twenty-something years the question of “who should LP report to?” has come up often and usually with passionate opinions as to the best reporting structure. Loss Prevention is a support function and one whose dynamic responsibilities and flexible nature make it a good fit for almost any department. In a way, LP is like a universal blood donor - not a perfect match anywhere, but functional everywhere.

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Topics: loss prevention development, loss prevention program, Audits and Investigations

Developing Effective Audit Programs

Posted on 6/4/14 2:05 PM

 

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Topics: store operations, loss prevention program, loss prevention, store audits, lp development, Outsourcing, train employees, educate

The High Risk Position

Posted on 5/27/14 12:45 PM

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Topics: preventing theft, loss prevention awareness, store operations, loss prevention program, employee theft, loss prevention, train employees, educate, customer service, career development

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