I am taking off to my office in a few hours. I was on my favorite page placing a post about a prior job I ahd in the late 80s, Toys R Us. Made me start thinking of the problem they had when I worked there, shrink. Any retail establishment that consist of minor cost items yet predominantly retail deals with external and internal theft. In my business due to its size, I wear many hats. One is Loss Prevention. Even with my business undergraduate degree, its a constant challenge. Most companies allocate a small percentage margin to deal with external shrinkage. However, internal is the big problem. But, I found an easy way to know whether an internal problem exist. Aside from doing Journal and video reviews on transcancels and voids, I simply look at the inventory dollar amount weekly. Inventory increase with same or less in store sales means venders are bringing more product to compensate for empty selves. However, less sales means its leaving without going through the POS registers. The way I see it, its a red flag to start researching/investigating. And on that note, I am off to work, lol.. Everyone have a great day!!
Posted on: Sun, 03 Nov 2013 18:23:06 +0000
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