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Sunday, June 28, 2015

Loss Prevention Practices

Loss prevention Practices: Internal & External Theft and Administrative errors...
Inventory shrinkage is not acceptable in any condition. It causes losses in your business as a result of which you have to face many issues. Due to this, you annual budget shrinks and so are the plans for your growth. To combat the problem, the store owner needs a loss prevention plan that focuses on identifying the causes of inventory shrinkage.

Let’s peek in a few significant loss prevention practices that you can comply to:
Putting a stop to employee theft
Whether an employee is stealing the cash or making a receipt for less, it is the biggest issue to address.
Strategies to work on:
•        Develop a fraud avoidance plan. It clarifies the staff members that you are not going to be lenient for such instances. It should include pre-employment background checks and regular updating of the computer passwords.
•        Ensure you perform a detailed background check on job applicants. Speak to their previous employers. Also, look at their records. If you find any inconsistency in their application, reject them.
•        Once you hire them, well verse them with the company’s policies and procedures. They must know that you have a strict approach towards such incidents and would not spare the one responsible for theft or mishandling of inventory.
•        If you have other businesses to handle, make sure you make unscheduled inspections to the store. Check accounts and sales on the regular basis.
How to stop external theft?
Retail stores also face the issue of shoplifting. Let’s have a look at a few guidelines that can help you curb it.
•        Greet each customer who walks into the store. Make sure you have enough staff members to greet and help them. It warns the shoplifters that the operators are aware of their presence.
•        During peak hours, ensure all your staff is present in the shop.
•        Do not let them take more than two dresses at a time in the dressing room. There must be helpers available outside the try chambers. It will help you curb such instances.
•        Install mirrors throughout the shop. It makes them feel watched.
•        Also, post warning signs all over. It could be as simple as shoplifting is a crime or offenders will be punished.
Other causes of potential loss
You may also face loss due to vendor error. You can prevent it doing truck and delivery audits. Administrative errors can occur due to a simple pricing mistake. Account reviews can help you put a stop to such errors.
Have a great week...

Steve

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.

Tags-LossPreventionAcademy, LossPreventionTraining, LossPreventionOnlineTraining

Thursday, June 25, 2015

2 New Chalkboard Videos about our Training for Loss Preventioon



Why a Career in Loss Prevention?

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                                    From Apprehensions to Management in Loss Prevention



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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.

Friday, June 19, 2015

Curbing Shoplifting

Loss prevention Techniques to Curb Shoplifting
Most merchants take only basic precautions to lessen the instances of theft in their stores.  They think just training their employees and installing surveillance systems can help them combat such serious issue. However, these two steps are not enough. There is still room for more. The article discusses a few loss prevention techniques that can help you keep the thieves at bay.

Make arrangements for constant video surveillance
In the morning, in the hustle of opening the store and setting the things, many merchants forget to turn on the equipment. When they turn to review the footage during non-busy hours, they get distressed to note the camera was not even switched on. So make sure the first thing you do in the morning is check the equipment setting. Ensure all the cords going to the recorder are secure. Also, change the default passwords for the video system so no one can erase the footage from the memory.
Apart from this, it is also important to place the camera at the right spot. Put them at the cash counter or near high-theft items and at the store’s exit point.  It will help you curb such incidences.
Position the monitor near the front of store
While installing the camera, we usually install the monitor behind them. It is recommendable to put a screen near the front door as well. When someone walks from the gate, he or she sees themselves on the television. They understand they are being watched, and it is a physiological way to stop them from doing something illegal.
Check the shortages and overages in the register
Shop owners track shortages more keenly them overages. Doing this, we commit a blunder. Extra money in the register can indicate that the employees are short-changing customers. Check the overages or shortages either manually or using a software. If you suspect an employee, carefully monitor them for the rest of the day.
Train your staff members to be active
Shoplifters do not steal from the stores where the staff members are active. Saying a simple “hello” or “may I help you” shows that your staff is engaged and carefully monitoring the activities of the customers. It makes the thieves extra vigilant, and they avoid taking chances at such places.
Training is very important.  You can not expect your staff to know the "rules" if you do not train them.  Consider adding some online training from the Loss Prevention Academy at www.LossPreventionAcademy.com.

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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