Ever wonder how much your store’s action plan or programs are really saving you? There are MANY plans that look great on paper, but it’s hard to determine exactly how much influence these plans have on the raw numbers. We can guess, but how much is a guess really worth when it has to do with your profit? In Loss Prevention, it’s difficult to weigh the return on investment against how many people steal or commit various types of fraud. Dollar amounts in theft have always been hard to configure. That has always been a struggle for Loss Prevention Managers to clearly present exact numbers to our stores. We see the thefts, we know it’s such a common occurrence, and we estimate the amount of loss based on that all together as a whole. However, even when adding together apprehensions and known theft packages found, there are still a ton of people getting away with merchandise that we didn’t see and can’t accurately quantify. It’s hard putting a number together, especially when we did not have a Loss Prevention ROI Calculator in the past to help us with calculating our return on investment. We would place an order for merchandise protection devices to help prevent losses, but even with that it’s still difficult to measure the true bottom line. It’s difficult to explain to your store team that I need to order 500.00 worth of merchandise protection devices when the budget may be jam packed with equally important expenditures this month. The team will want to know how going over budget will benefit the store, this month and annually. How can we measure how to gain profit by ordering the necessary loss prevention tools? With the Loss Prevention Calculator, you can actually calculate your return on investment easily without fluff.
As a Loss Prevention Manager, I get a lot of push back from store managers on how much I should spend on my Loss Prevention supplies. With the P&Ls coming out each month showing the expenses for the entire store, the budget is usually tight for the Loss Prevention department. I always get the question “What’s the return on investment if I say yes to this?!” In the past, I would go over what is going on in that department, things I’m noticing, and tell them why I believed we need it. It was through discussions we would come up with our action plans, rather than having a Loss Prevention ROI Calculator help us truly know. It would include a lot of great activity and information from what I’ve seen, but dollars we would get back were difficult for me calculate with a great degree of accuracy. In the past, I didn’t have a Loss Prevention Calculator to aid me in this process, but we certainly wish we did. I had no idea this was a free device readily available for retailers to utilize. This would have been extremely helping when trying to show what we need to get in order to reduce shrink in our store. My store manager liked how user friendly it is and helps you see clearer when determining the ROI for what you want to implement in your store. There is no more “I think this will help us”, but now “This is the amount of dollars we will get back from this sub department”. No more throwing numbers out that we hope are close based on observations and loose estimates. You will be able to figure out how long until that investment turns into straight profit, which is exactly what programs in our stores are supposed to accomplish.
Don’t wait like my store did before utilizing the Loss Prevention Calculator. No more scratching your head, while making a decision if the plan is worth the investment. Make life easier with this incredible Loss Prevention ROI Calculator, which is available to retailers now.
Need information on the Loss Prevention Calculator? Give us a call at 1.770.426.0547 now. .