Health, Safety and Security

Retail Loss Prevention and Shrinkage Control

Retail shrinkage is usually blamed on shoplifting and is usually mostly internal or procedural, which means a business that responds by adding guards is spending money in the wrong place. This course starts by finding out where the loss is. Delegates work through shrinkage measurement, stock counting and the reconciliation that separates theft from receiving error, wastage and administrative loss. Sources are addressed by proportion: staff, supplier, customer and process. Point of sale fraud is covered in detail, including refund, void, discount and price override patterns and the exception reporting that finds them. Receiving and back door controls follow, since supplier and delivery loss is invisible on the shop floor. Customer theft is addressed with prevention layout, merchandising and lawful apprehension. Staff awareness and incentives are covered, along with the culture that makes reporting possible. Investigation is addressed within employment law limits. Technology is covered on what electronic tagging and analytics actually deliver. The course closes on building a loss prevention programme and reporting shrink to a board.