Wednesday, February 15, 2017
Avoiding Shrinkage and Other Embarrassing Problems for Store Managers
Loss Prevention for Retail Store Managers
Are you embarrassed by the size of your, er, inventory? Tired of having to defend shrinkage, blaming it on the cold economy, or telling the boss its normally much bigger?
In an industry where size and bottom lines absolutely matter, managers and loss prevention specialists must address the tiny elephant in the room: Inventory Shrinkage.
LP professionals have been working diligently to find advancements in technology aimed at deterring crime in our industry, sometimes even before it happens – but as our techniques get more sophisticated, so too do the criminals.
-Bob Moraca, NRF Vice President of Loss Prevention
The two main causes that account for approximately 75% of inventory shrinkage are shoplifting and employee theft!
Preventing loss is one of the most important goals of any sales, merchandising, or operations manager. According to the National Retail Federation in their 2016 research findings, the top 5 loss prevention methods used by loss prevention specialists, retail managers, store owners, and senior inventory managers are security alarms, digital video recorders, live costumer visible (CCTV) — live video streaming from video surveillance, Point of Sale data mining, and armored car deposit pickups.
|Image provided courtesy of the National Retail Federation|
In the online publication SecurityMagazine.com, a recent article regarding asset protection states:
Jack L. Hayes International is a loss prevention security consulting firm specializing in asset protection and safety. They are finding that retail loss is on the rise. The firm recently released its 28th Annual Retail Theft Survey that showed a steady rise in retail theft loss over the past decade.
According to the findings, more than 1.2 million shoplifters and dishonest employees were apprehended in 2015 by just 25 large retailers who recovered more than $200 million from these thieves.
KJB Security Products, Inc. carries a variety of products that utilize the latest technology for retail loss prevention. We recommend protecting your inventory using DVRs or hidden cameras like the following:
Digital Video Recorders (DVRs)
Hide cameras in the Inventory Room to make sure everyone is behaving themselves.
Xtreme Life® 720P Night Vision Smoke Detector (Bottom View) -SC7200HD
Black Box Wi-Fi HD Camera and DVR - DVR1300W No other Black Box comes with Wi-Fi connectivity and over 1 year Standby or 28 hour continuous recording battery life. It is rugged and water resistant, and works great for both outdoor or indoor surveillance. It has a 60" stretch of PIR and camera cable giving it a longer video span, allowing for better hidden value.
Ultra thin cables make it easy to hide this black box DVR! Put it in the ceiling tiles and set up camera lens in a hole in the tile. Hide it in a bucket, behind a rock, or in a plant. For iCloud storage, add the Extreme Life plus to this DVR for multiple hours of recording storage! Watch the recordings on your laptop and easily find the source of the drain!
Now go forth, and feel proud about the size of your inventory!
Read more about counter survellience products that help create a secure environment for your clients particularly in bathrooms, dressing rooms, and tanning salons from our blog entitled Top 5 Counter-Surveillance Devices.
keywords: Loss prevention, Retail Management, Sales, Operations, Inventory, Retail Sales, Audits, Merchandising, Theft prevention, Shoplifting, Inventory Shrinkage