I am not quite sure when you conduct your periodic inventory count but let’s presume that you just completed the count and you noticed that you are missing $10,000 in inventory. This number might represent 100 percent of your monthly sales or maybe less than 1 percent of your monthly sales or anywhere in between. This inventory shrinkage might be substantial.
Let’s also presume that your average profit margin is 5 basis points or in other words 5 percent of each item you are selling. How much in additional sales will you need in order to make up for the shortfall in inventory?
From an accounting perspective you can just write the inventory losses off. However, from a business perspective what do you have to do in order to reduce your inventory shrinkage?
Once you have determined the reasons for the inventory shrinkage, you can develop a strategy. Some of the shrinkage might be due to accounting entries but some of it may be attributable to shoplifting. So what can you do to stop shoplifting and implement a means to start your retail theft prevention strategy?
A Checkpoint Security System could easily be incorporated into your retail theft prevention strategy and become the cornerstone to stop shoplifting. A Checkpoint Security System can be purchased from a Checkpoint Security System dealer and will cost a fraction of the inventory shrinkage you just experienced in one month.
A Checkpoint Security System must be installed by a certified technician with the correct tools and software to ensure that the system is properly tuned. Periodic maintenance and adjustments are highly recommended to keep the system at peak performance due to changes in your store layout. These systems are highly reliable and will provide many years of assistance in your retail theft prevention strategy.
For more information contact your loss prevention consultants or call 1.770.426.0547 in Atlanta Georgia.
Have you been wondering how you are going to start controlling your increasing shrink numbers? Especially in a tough economy every business owner is looking for solutions to prevent shoplifting which is a significant contributor to your ever rising shrink numbers.
Are you in the market for an anti-shoplifting solution that could assist your bottom line? If the answer is yes, I would like to offer some possible solutions to improve your net margins.
Since shoplifting is one of the biggest drags on your bottom line, have you answered the question on how you are going to stop shoplifting? Although I am not aware of a way to completely stop shoplifting, having a solid business plan which includes well trained employees and using equipment like Checkpoint security systems can most certainly put the brakes on shoplifting losses in your stores.
Checkpoint security systems are made up of antennas which are installed at the front of the store while your merchandise is equipped with checkpoint tags or checkpoint labels. The type of merchandise you sell in your stores will dictate if you should use hard tag or labels or possibly both. The process to have Checkpoint Security systems installed is very straight forward; the Checkpoint tags can be attached to clothing articles while other merchandise should have Checkpoint labels applied. After you have deployed an anti-shoplifting strategy including Checkpoint Security Systems, you should see an increase in your bottom line within a very short period of time.
Retail theft prevention is not only responsible, it boosts your profits. Shoplifters can quickly ravage a store, and left unchallenged will hurt the morale of the store associates and eventually kill the business. If your business continues to experience losses, you may have to cut the hours of your employees. You may start on that downward spiral that may ultimately result in the closure of your business.
Start deploying anti-shoplifting measures to curb and continue on the road to stop shoplifting. Retail theft prevention is a true possibility, but you must take the first step and develop your anti-shoplifting program. Retail theft can be prevented by the use of Checkpoint security systems and will help put your business back in the black. If your store is experiencing inventory shrinkage and you are at a loss for the next step, consider what you’ve done to help on the anti-shoplifting front.
Please contact us for professional help in your fight to stop shoplifting.
For more information contact us at anti shoplifting or call 1.770.426.0547
When you go to a meeting, don’t you normally wear a name tag so that people know your name? Maybe you also include the name of your company and your position with the company.
Wouldn’t life be so much easier if shoplifters behaved the same way when they walk into your store? If each shoplifter wore a name tag saying “Hello, my name is Fred, I am self-employed and I am the lead shoplifter”. Truly, wouldn’t it be helpful if we could so easily detect a shoplifter? Unfortunately shoplifters don’t wear name tags advertising their profession.
In reality, there is not a “look” to a shoplifter. They can be dressed nice, dressed shabby, be clean, be unkempt, be male, or be female. There is no picture in the dictionary next to the word “shoplifter.”
Does that mean since we don’t have a picture of a typical shoplifter, there is nothing that your business can do to prevent shoplifting? Shoplifters can be detected more by their actions than their look. Shoplifters may be looking around and watching other customers and your employees. He/she may appear nervous or apprehensive. If he or she simply wanders through the store and does not appear to be shopping the way your other customers are shopping, you may very well be dealing with a shoplifter and yes, you can teach your employees how to identify a shoplifter and prevent shoplifting.
Some shoplifters work alone but many times they work in groups.
One person may distract the employee while the other steals. Once you teach your employees that anyone can be a shoplifter whether they enter your store as a single customer or in a group, they will be better prepared to prevent shoplifting.
Training of your employees is a key element to prevent shoplifting. Have your employees pay attention to their surroundings while they are working on your sales floor. If they are stocking shelves or straightening merchandise, they can still watch the customers around them and provide good customer service.
Make sure that your employees are aware which items are considered high theft. These items should be kept in an area where employees can monitor them. Employees should provide excellent customer service at all times – but especially when customers are looking at these high theft items.
Shoplifters will never wear name tags in public but you certainly can ensure that they will not frequent your store for the “deals” of the week by applying proven tips to prevent shoplifting in your store.
For more information contact us: prevent shoplifting or call 1.770.426.0547 Atlanta Georgia
