Black Friday is past. Extended hours are a thing of the past, until next year. Massive returns are about to get back to normal. Now what? It is Inventory time !!!
Can a Loss Prevention person get a break? Well, not until February for most. Most retailers schedule their inventories during January. Inventory levels are low and updating counts helps replenish stock levels to where they should be.
Inventory time is the when the store gets their report card for the year. What is the shrink number? What were the results from all the programs that were implemented during the year? Shrink meetings, new hire orientations, awareness programs, working the exception reports, identifying shoplifters, catching paperwork errors, BAD employees and so the list goes on. Anyone area make the shrink number low? Nope, there is no silver bullet to a low shortage number. It is the result of implementing "block and tackle" basic programs that usually drive a good number. Over creativity can be a negative here.
Prepping for inventory can be a lot of work. It all comes down to...clean up the store. All merchandise found under shelves, stockrooms, D and D cages and get it ticketed and in it's right place in the store. Validate skus, work the defectives out and insure a clean cut off for incoming product. Done? Not really.....validate, validate validate the accuracy of the counters, insure they are taking their time and not missing any product. Done? Not really, still gotta work the exception report that prints out after inventory.
Done? Maybe....take a break and then remember that the shortage number for next year starts the day after this inventory.
Hope the holidays were good for everyone. Exciting times for the Loss Prevention Academy!!!
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LPDT, LLC offers the only E-Learning training for Retail Loss Prevention at www.LossPreventionAcademy.com. Check out our awareness posters for shortage and safety at www.LPPosters.com. You can follow us on Twitter under LPACADEMYcom and Facebook under Loss Prevention Academy.
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