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Real World Advice for Retailers - Loss Prevention, Chapter 1
In this article, Michael introduces a three-part series of articles that address the serious issue of loss prevention. This first article discusses the ways that retailers lose money from their tills and explains how a POS system can prevent employees from "skimming the tills."
Real World Advice for Retailers - Loss Prevention, Chapter 2
Most retailers focus on preventing shoplifters from stealing merchandise from under their noses. Big investments are made in closed circuit camera systems and recorders, as well as expensive security tags and readers – all to prevent, or catch, shoplifting. But what about the other two leading causes of inventory shrinkage – employee theft and data entry errors. Chapter 2 of Michael’s series on Loss Prevention discusses how a good inventory control system can minimize inventory shrinkage.
Real World Advice for Retailers - Loss Prevention, Chapter 3
Chapter 3 of Michael’s series on Loss Prevention discusses ways that your employees can steal from you without physically taking merchandise or money. He also suggests ways that a retailer can use their POS system to minimize or even eliminate these problems altogether.
Reducing Shrink
Inventory Shrink represents a major cost to retailers, and it takes a combination of resources and business practices to properly combat it.
Types of Shoplifters
Retail operations offer many challenges for dedicated managers and owners who work hard & are committed. But the most difficult part of his/her role is the loss prevention function. Many retail owners and managers are not equipped or trained to deal adequately with developing an effective loss prevention program, or in preventing external and internal losses in the complex Retail settings.
To Catch a Thief
I challenged a friend who owned a Health Food / Vitamin Store to an experiment. Over a three day period an accomplice and I would try to rob his store blind. The owner was confident that his staff was alert and he had some good anti-theft devices.
Retail Loss Growing Problem
In today's highly competitive environment keeping retail loss, which includes shoplifting, internal theft, fraud, etc. to the utmost minimum is mandatory for the ongoing success of your retail business

Calculate the Cost of Shoplifting and Employee Theft
Shoplifting and employee theft cost the retailer a great deal in lost profits and everyone and everyone including the consumer pays for this crime. Unfortunately retailers often underestimate the actual figure in terms of losses. Unless a business has strict inventory control it is simple to come up short getting a good sense of overall losses. There is a basic formula for calculating total annual retail losses in your business, which will give you a fairly accurate idea of how much profits are actually walking out your door.

Other loss prevention Related Articles

Job Loss: If You’re Fired What’s Next?
Job loss, just like any loss that you will experience, means going through the process of shock and denial, anger, depression, acceptance and – finally – growth. As they say, whenever one thing ends, something new begins. After a job loss, you will always have options: that's one of the most important things to remember.
Manage Salespeople One at a Time
Salespeople are a funny breed because selling is a crazy business. The good ones have quirks and idiosyncrasies that make them difficult to manage unless you know how to manage them one at a time. In fact, do you know what motivates each and every one of your salespeople? It's not just the money, although that may be high on the list. Most crave recognition, although no one will admit to it. Many just want to do a good job judged by their own standards. Some run hard for fear of loss (loss of visibility, loss of status, loss of income, even loss of employment). Learn their personal goals, so you know why they work.

Do You have a "Sales Prevention Department?"
When was the last time you met with your sales prevention department? Did you listen closely to what they had to say, the excuses they had, and their plan to mishandle customers in the future? Sales Prevention Departments can masquerade as your advertising, marketing, frontline sales, customer service, phone technology, or any department including accounting.

Types of Shoplifters
Retail operations offer many challenges for dedicated managers and owners who work hard & are committed. But the most difficult part of his/her role is the loss prevention function. Many retail owners and managers are not equipped or trained to deal adequately with developing an effective loss prevention program, or in preventing external and internal losses in the complex Retail settings.
Get a check up.
I get to do a lot of work in Asia and I find it interesting that over there they pay the practitioner to keep them well. If they get sick they don’t pay which is the opposite to our medical model not just in Australia but in most of the western world. They live from a place of prevention and don’t wait to get ill. The biggest change I have made in my life in the last twenty years is that I now life from a place of prevention and enjoy a state of good health and wellbeing.
Real World Advice for Retailers - Loss Prevention, Chapter 1
In this article, Michael introduces a three-part series of articles that address the serious issue of loss prevention. This first article discusses the ways that retailers lose money from their tills and explains how a POS system can prevent employees from "skimming the tills."
Real World Advice for Retailers - Loss Prevention, Chapter 3
Chapter 3 of Michael’s series on Loss Prevention discusses ways that your employees can steal from you without physically taking merchandise or money. He also suggests ways that a retailer can use their POS system to minimize or even eliminate these problems altogether.
Handling Loss – Five Steps To Help Yourself & Others
People often tell me that they don't know what to say when someone experiences a loss. I explain that often times the person experiencing the loss simply needs to talk. You don't need to say anything; just be there to listen and support the individual. However, most people are still uncomfortable with helping family members, friends, and colleagues cope with loss. This article provides information on understanding loss and tips to be in a better position to help yourself and others work through their own loss.

Succession Planning
Can organizations prepare for loss? You can never be fully prepared for a tragic loss, however a succession plan will go a long way in minimizing the effect of loss. The loss in this case was an untimely death, but many organizations today face the risk of losing a seasoned executive through age, retirement, and even hiring away by a competitor. It is therefore important to consider the issue of succession NOW rather than later.
Data Loss - The Scariest Term in Business Today
In business, data loss refers to an unforeseen loss of data or information. There are several root causes for data loss, and although there have been many backup and recovery efforts made over the last few years, more often than not, data loss is permanent.

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