Inventory Tracking

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3 Lessons from Walmart on the Future of Grocery Store Shrink Control

In 2015, Walmart reported $300m in revenue lost to theft alone. When combined with other contributors to total shrink, it’s no wonder why the retailer has recently launched a series of new initiatives to get a better handle on these losses. Like other retailers, both large and small, Walmart’s plan to combat the industry’s alarmingly…

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3 Ways Grocers Can Prevent Increased Holiday Fraud

This post is excerpted from our latest eBook, The Top 5 Asset Protection and Loss Prevention Problems Faced by Supermarkets During the Holiday Season. Instances of fraud increase during the holiday season. Fraud is not always easy to catch the moment it happens, but training employees to follow standard procedures and always be vigilant can…

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How Grocers Can Manage Untrained and Overwhelmed Holiday Staff

This post is excerpted from our latest eBook, The Top 5 Asset Protection and Loss Prevention Problems Faced by Supermarkets During the Holiday Season. The holidays put an increased burden on existing and seasonal staff and create opportunities for theft by both shoppers and employees. Follow the strategies below to minimize the stress put on…

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4 Actions Grocers Should Take to Reduce Holiday Theft

This post is excerpted from our latest eBook, The Top 5 Asset Protection and Loss Prevention Problems Faced by Supermarkets During the Holiday Season. The holiday season brings more sales for grocers and supermarkets, but also brings a dramatic increase in property crimes and theft including shoplifting. Larger U.S. cities have reported a shocking 45…

How Inventory Cycle Counts Can Help Grocers Reduce Shrink

Roughly 16 percent of retail shrink stems from administrative paperwork errors, according to the latest National Retail Security Survey. While good accounting systems armed with proper protections can prevent costly pricing mistakes due to markups and markdowns, cycle counting your inventory can have a huge impact on shrink numbers as well. This practice, when implemented…

3 Out-Of-Box Analytics Platforms Grocers Can’t Ignore

It can be hard to stay on top of the latest advancements in grocery store data technology. With recent advancements in CCTV technology and loyalty programs — not to mention the rapidly-changing habits of 21st century consumers — analytics platforms that help inform supermarket business decisions might be pushed to the back burner. If you…

The Dangers of Face Overs & Stuffing

The term planogram is nothing new to any retailer. It refers to a set plan of where products should be placed throughout the store. Much planning goes into the development of these plan to ensure complimentary products are placed close to one another, product assortment is optimized for sales, and more. Even with such detailed planning, it is fairly common to see stores vary slightly or even greatly from their planogram. Two primary causes of this deviation being face overs and stuffing.

Innovation in CCTV and its impact on Loss Prevention

 

CCTV has long been one of the most important, central methods to deter shoplifters and help identify repeat offenders. Great CCTV systems mean you can monitor problem areas constantly, and even if you can’t react to a thief in real time, you could still get a good idea of their identity, behavior, and the products that they targeted.

What Goes Into Building a Key Control System

Key control is a necessary burden for every store. You have to lock up your valuables and make sure that you keep a close eye on the movements of the keys to prevent loss and duplication. Here are 5 best practices that can help you improve your key control system.

Overview of Known and Unknown Loss

Minimizing shrink is crucial for any retail business. Losses come in two main categories; known and unknown. As a loss prevention team, your goal must be to move as many losses into the known group as possible. That way, they can be more closely watched and managed.