March 5

Loss Prevention & Profit Protection

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Star Do you know just how much shrinkage is eroding your profits?

Star Do you know that with the right Loss Prevention strategy up to 68% of your shrinkage can be controlled?

Star Do you know that the major share of your shrinkage is caused by people on your payroll – through error, intentional damage and theft?

Star Are you aware that only about 21% of your shrinkage is the result of shoplifting?

Reducing shrinkage in retail is an on-going effort requiring commitment from all areas of the organization.

It is not sufficient to train floor staff to watch out for thieves – employees or otherwise.

Achieving excellence in Loss Prevention requires a thorough understanding of the underlying causes.

Because shrinkage is caused by process & systemic failure, opportunity and the human factor, all of these must be addressed and must be synchronized to make the improvements necessary to stop profit erosion.

This program is designed to provide understanding of all causes and to provide the know-how and the tools to reduce shrinkage and, therefore, enhance your profit picture.

Benefits to the Participants are:

Star Strengthen participants’ understanding of what is to be gained by making Loss Prevention a priority.

Star Improve participants’ understanding of the critical elements and distinct advantages of an effective Loss Prevention strategy.

Star Improve participants’ ability to develop an effective Loss Prevention program that works well within a revenue generating environment.

Star Receive practical hand-outs and tools to use when implementing Loss Prevention program in their organization.

Star An opportunity to network with other retailers – all of whom have a desire to reduce shrinkage – to share experiences and best practices.

What you’ll take away from this program:

After you’ve attended this workshop you’ll know exactly how to…

Star Recognize and take necessary actions to reduce employee theft

Star Identify and reduce customer and vendor related theft and fraud

Star Conduct root cause analyses of your shrinkage problems

Star Analyze the impact of shrinkage on your profit margin

Star Design your store(s) to prevent theft

Star Create attractive but secure displays of goods on the shop floor

Star Develop preventative measures to help you reduce your shrinkage level

Star Develop the appropriate policies and procedures for profit protection

Here’s what LP Managers say:

Amazing presentation. Tons of valuable information. If you are in the LP business, you must attend.” – J. Stubbs, LP Manager

“Found the workshop to be quite an eye opener. Very informative and instructive.” – B. Sturrup, LP Manager

The Retail Loss Prevention Program Outline

Understanding Shrinkage

  • Shoplifting, Internal Theft, Paperwork Errors
  • Perishable and Non-Perishable
  • Profit & Loss Statement – Substantial Impact

Setting Policies & Expectations

  • Vendors – Avoiding Theft & Fraud
  • Receiving Department
  • Store Design and In-Store Merchandising
  • Communication Between Departments
  • Employee Errors

Awareness: Warning Signals

  • Transaction Analysis
  • Voids, Returns, No Sales
  • Employee Behaviors
  • Customer Behaviors
  • Sweetheart Deals
  • Shortchanging Customers
  • Bank Deposits

Profit Enhancing Hiring Practices

  • Pre-hire Background Checks
  • Written Honesty Test
  • Interviewing for Integrity
  • Employee Handbooks

Action Plan to Reduce Shrinkage

  • Understanding Your Vulnerabilities
  • Where to Focus
  • Monitoring
  • Reliability Testing
  • Deterrents that Work
  • Performance Evaluations

Developing Your Security Plan & the Role Everyone Plays

  • Defining Manager’s Responsibility
  • Role of the Security Officer
  • Role of Other Management and Employees
  • Role of Head Office Departments
  • Security Procedures

Retail Loss Prevention Technology

  • Transaction Monitoring
  • RFID
  • VST Tags
  • Biometric Surveillance
  • Video Analysis