Every retail operation must take measures to counteract inventory walking out the front door. Shoplifting, shrink and fraud aren’t new, but thieves are constantly hatching ever more sophisticated methods of lifting merchandise and cheating the system.
A recent article provides a glimpse into the operations of organized retail crime outfits and how retailers, such as Target are fighting back. The article talks about how thieves “snag popular, easy-to-move items — everything from Enfamil baby formula to Gillette razors to Olay lotion, often by the case. They work fast and efficiently, snatching a couple Dyson vacuum cleaners and busting out the fire doors of stores into waiting getaway cars.” The story also points out that the Internet now makes it easier than ever to dispose of stolen merchandise.
While retailers need Loss Prevention services – especially during tough economic times – they don’t often have the budget for it. This is why Epicor Loss Prevention Services group makes sense for retailers seeking to efficiently and cost effectively address Loss Prevention goals and initiatives with limited staff and tight budgets. Epicor’s dedicated Loss Prevention team has extensive experience in improving operation security and protecting assets, and driving down the cost of Loss Prevention functions across the store. They help retailers analyze department needs, develop realistic budgets, and then implement and maintain robust yet flexible processes that leverage the proven advantages of systematic Loss Prevention.
When top-line revenues are tough grow, retailers can improve their bottom line through Loss Prevention. The Epicor Loss Prevention Services group offers a proven methodology that focuses on education and awareness, positive reinforcement, activity monitoring, controls and follow through. Service offerings include:
- 10-Point Inspections: Epicor analysts review existing applications/processes and identify how to best leverage services to formulate a winning plan to support retail Loss Prevention efforts.
- Strategic Consultation: Epicor analysts instruct retailers on how to conduct efficient investigations, use Loss Prevention tools more efficiently and in conjunction with other Epicor applications such as Sales Audit and CRM, and implement new processes to ensure consistent investigative techniques throughout departments.
- Custom Report Development: Epicor analysts can create customized scorecards and dashboards to provide key performance indicators (KPIs), enabling Loss Prevention departments and executives to track overall program effectiveness.
- Investigation and Recovery: Future options to augment Loss Prevention Field Teams and lend expertly trained and qualified field investigators to each case.
- Calibration: Essential to staying ahead in today’s dynamic retail environment, Epicor conducts quarterly calibration to retain system focus and integrity.
- Analyst on Call: This option provides customers with an assigned on-call Epicor Loss Prevention expert familiar with their specific Loss Prevention environment, providing in-house Loss Prevention teams with access to expert advice whenever it’s needed.
For more information, visit our Loss Prevention Services page.
Posted by Sally McQueen, Senior Principle Consultant, Epicor