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Do Cash Shortages Correlate to Shrink?

Posted on 5/30/13 8:51 AM

Although not reflected in inventory results, the loss of cash at the point of sale (POS) affects profitability. Because cash losses may be absorbed into the overall deposit amounts or because a series of small, individual variances are considered inconsequential these losses may not be recognized at the corporate level.

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Topics: shrink awareness, training and awareness

What Honest Employees Won’t Tell You

Posted on 4/30/13 10:26 AM

Companies spend billions of dollars each year combating the billions of dollars lost to theft and error. Much of the money is spent on personnel and devices used to deter, detect and resolve issues that result in loss. Often we overlook the best and most educated source of information - our employees. Sure we put in tip lines and we often provide some loss prevention training and at times we may even speak with someone below management level. But even when creating shrink action plans or resolving audit exceptions we tend to ignore employees who aren’t at least in some form of a supervisory role. Why bother right? I mean what does a part timer know or care about our business? What could they possible add to the conversation? Sure we’d like to know if they know of anyone that’s stealing, but we’re not looking for their advice on our area of expertise.

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Topics: training and awareness

Safety: Fit and Function in a Loss Prevention Paradigm

Posted on 4/26/13 9:13 AM

A word with Mike Alsfeld

Loss prevention and Corporate Security Manager at Swarovski

The need for a safety program appears to be common sense, much like putting locks on doors. The term “safety program” is however a deceptively simple idea for an area that requires daily efforts. What appears a simple solution becomes ever more complex as we consider both the expanse of issues to attend and the requirements for maintaining a safe environment. At the heart of the matter are three broad stroke considerations.

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Topics: training and awareness

Who Cares What Shoplifters Think?

Posted on 4/22/13 10:00 AM

When you need information or advice on a subject it makes sense to speak with a professional source. Mostly. On some topics we can expect straightforward advice while for others we need to prepare for a less than “objective” opinion. I expect a medical professional to give me accurate advice on health topics. I expect that the sales guy at the Ford dealership may provide a certain slant when discussing the “best car on the road.” Advice from criminals fits more closely with the car example than the medical. Studies involving shoplifting range from opinion surveys to the impact of depression on decisions to steal. These studies can provide insights on a crime that some believe has become an epidemic.

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Topics: training and awareness, policies and procedures

Can Paying More Reduce Employee Theft?

Posted on 1/21/13 2:00 PM

Recently, members of the LPI team were in attendance to hear Tatiana Sandino, co-author of a recent study on employee theft, discuss whether paying higher wages to associates will decrease the likelihood of them being dishonest.

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Topics: training and awareness

Loss Prevention Doesn’t Have to Mean Sales Prevention

Posted on 8/2/12 10:00 AM

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Topics: training and awareness, policies and procedures, Loss Prevention program and development

4 Key Fundamentals to Positively Impact Your Shrink Loss

Posted on 6/28/12 11:00 AM

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Topics: training and awareness, Loss Prevention program and development

Maybe It’s Because Your Audit Action Plan Fails To Act?

Posted on 6/21/12 9:30 AM

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Topics: training and awareness, policies and procedures

“Y” Generation Training Can Improve Loss Prevention Awareness

Posted on 5/17/12 9:30 AM

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Topics: training and awareness

Awareness vs. Education

Posted on 4/5/12 9:30 AM

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Topics: training and awareness