Most retailers have a team in place to deal with stock loss. Shrinkage - also called Stockloss - is the amount of stock that 'disappears' during the trading year from a retailer's inventory.
If a retailer books in it's stock correctly at the Goods Inwards area or Back Door, then keeps the goods securely on the shelf preventing them being stolen, and sells stock correctly through the till - then surely all stock inventory figures should be correct?
Police forces around the UK routinely arrest and process hundreds, if not thousands of shoplifters every day. At the same time, other stock-loss or shrinkage is caused by error and wastage.
Who pays for Retail Stockloss caused by crime and poor process ? - The truth is that this cost affects shareholder dividends, customer prices, and employee salary packages.
Luckily many UK Retailers have realised that if they express their Shrinkage or Stockloss as a percentage of sales, this may seem like a small percentage. Express this number as a percentage of net profit, and suddenly you have everyone's attention, from shareholders, through the board of directors, right down to branch level.
Over 100,000 people are employed in various security, profit protection and loss-prevention roles, many in a retail environment. This website aims to provide information to all engaged in stockloss reduction, whether you are a Director of Loss-Prevention, Regional LP Manager, Loss-Prevention Investigator, Security Officer or a retail colleague interested in reducing stockloss, preventing crime, improving customer security and driving shareholder value. The role of the Store Detective seems to be making a big comeback as a result of rising cime and new sentencing powers.
Find out about the lastest developments withing the loss prevention industry including Job Vacancies, News, and Information Resources. Loss Prevention equipment is covered extensively including CCTV,EAS, Intruder Alarms, and other new innovations such as Smartwater and Smoke Cloak. Employee dishonesty remains high on everyone's agenda, and there's some great EPOS Data Mining software tools covered here to help you stay ahead.
Use the resources on this site to help network with like minded loss prevention professionals.
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IFSEC is the International Fire and Security Exhibition at NEC, Birmingham 16th - 19th May 2011 - Everyone who is anyone in the Security, Loss-Prevention and Profit Protection sectors of Retail Management will almost certainly visit IFSEC this year.
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Most retailers have a team in place to deal with stock loss. Shrinkage - also called Stockloss - is the amount of stock that 'disappears' during the trading year from a retailer's inventory.
