When you are in the retail industry, the last thing that you want to talk about is shrinkage. Everybody knows that this is a bane to the industry and accounts to more than 20 per cent of operating profits for some. It is estimated that shrinkage costs the retail industry about $ 31 billion every Read More… »
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» Controlling Shrinkage in the Retail Industry
Various independent studies have concluded that every year, the retail industry stands to lose around $160 billion. This includes lost sales opportunities that result from employee theft, shop lifting, administrative error, wrong pricing, vendor fraud, and administrative fraud. Ironically, the solution to these problems is uncomplicated and indeed inexpensive. Door intercom video and key card Read More… »
» Who Steals From Their Employer? – Part 2
Make certain that your policies are made clear to all employees, let them know that theft is not tolerated and be consistent with your communication and follow up. Many companies will install business security camera systems along with a form of key card access systems to help identify who might have had access to a Read More… »