Best way to battle inventory shrinkage is to prevent theft…here are tips

The best way to battle inventory shrinkage or inventory loss is to prevent theft. All businesses experience loss or “shrink” of some kind, retailers are especially prone to this plague since they battle not only employee theft but also theft due to shoplifting and organized retail crime.

Let’s look at some tips to help prevent theft from occurring in the first place.  Firstly there should be written policies and procedures that are designed to control losses and prevent them.  For example in a retail environment; retailers who are good at controlling shoplifting will always greet customers when they enter the store and be sure to get eye contact.  This eye contact is proven to stop shoplifting in the impulsive and amateur shoplifters because they feel they have been identified.  This also sends a message that you are paying attention.  Apparel and accessory retailers will also pay attention to what the shopper is wearing on the way in and be sure that is what they are wearing on the way out.  One way to do a good job of this is to zone the staff in areas to help reduce the amount of traffic any particular employee has to track.

Another way to prevent theft is to install technology that will deter shoplifters and reduce inventory shrinkage.  Such as Checkpoint Systems electronic article surveillance (EAS) systems.  These systems involve antennas installed at entry and exit doors that pick up sensors placed on merchandise.  If the tagged merchandise gets to the antennas an alarm will sound and lights will flash alerting staff to the act.  Staff that are well trained in how to maximize the use of Checkpoint Systems technology have been proven to cut inventory loss by over 50%.

For more info visit: prevent theft or call Loss Prevention Systems, Inc. at 1-866-914-2567

 

 

Posted October 6th, 2010 by Staff Writer and filed in prevent theft

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