Is It Reasonable To Ask The Question, “Can Loss Prevention Be Free?” The Answer May Pleasantly Surprise You
Over the last six years or so I have worked as an overnight supervisor in a college library. I also work part-time for an office supply retail store and I write articles based on my many years of Retail Loss Prevention Management and retail logistics management experience. Recently I have changed positions in the library from an overnight supervisor to a daytime supervisor, a change I have been hoping for over the last year or so. I had to consider the costs and benefits of such a move before I asked for it. The cost was going to be losing a shift differential payment that went with working overnights. Financially it was going to be a bit tighter on my budget. The return on investment (ROI) for me would be working during the daytime, seeing my family more and not dealing with sleep issues from working overnights. There would also be the opportunity to enjoy a full day off rather than sleeping part of my second day off in order to get ready for the overnight shift. To address the financial loss I was able to pick up an additional shift at my retail job each week. Some decisions are not always easy to make, they have to be well thought out because there can be consequences to those decisions. In my case it was a financial cost but I was able to find a solution and the benefits far outweighed the cost. Some decisions are what I call no-brainers. The benefits from a decision clearly outweigh a cost and will continue to reap dividends in the future. One decision that would be a no-brainer would be if someone were to ask, “Can Loss Prevention be free?” and the answer would be yes.
It may sound like a preposterous question, “Can Loss Prevention be free?” but it really isn’t preposterous. By using the Free Loss Prevention Calculator a business owner can see how long it would take for a Checkpoint Loss Prevention System to pay for itself in savings due to reduced theft. Here’s how it works, you go to the calculator, enter your annual sales information and the amount of money you would like to invest in Checkpoint retail anti-theft equipment. Based on average retail shortage percentages of 1.2%, the calculator reduces annual shrinkage to .65% and gives an estimated figure of how many months it would take for the system to pay for itself. I should also point out that the Free Loss Prevention Calculator requires no “sign-ups” and there is no tracking of information. In fact, you can change the information you input as much as you like to see the different results you could get by spending more or less on Loss Prevention equipment.
If reduced shortage in and of itself isn’t enough motivation to get you to try the Free Loss Prevention Calculator perhaps you would be interested to know that you can also improve sales with a decline in theft due to shoplifting and employee pilferage. Shoplifters empty product from store shelves and thereby remove product for your true customers to purchase. It doesn’t take a genius to figure out that without merchandise there is nothing to buy and guess what? The shoplifters are stealing what everyone else wants not the items that sit on the shelf and don’t move. They are taking the items that can be sold on the internet or in “Mom and Pop” shops. Without those items sales decline on top of the losses you are incurring from the criminals. Installing an anti-theft system puts a stop to the losses and product remains on the shelf until the paying customer takes it off and buys it.
Can Loss Prevention be free? It can and it can be profitable too, this is a no-brainer. Theft prevention, improved in-stocks and increased sales can be your ROI if you invest in Checkpoint equipment.
Get more information on the Free Loss Prevention Calculator, contact us or call 1.770.426.0547 today.