Retail loss prevention strategies are a great tool to help combat inventory shrinkage. Inventory shrinkage typically occurs due to theft. Implementing a loss prevention (LP) checklist within your company will help prevent security mistakes from occurring.
Protect Your Profits
LP strategies will help reduce profit loss caused by retail shrinkage, making the difference between earning and losing money. Understanding your specific needs will help you set your LP goals and know where to spend your time and money.
It’s important to remember that whether you are the business owner, finance, operations, merchandising, or LP professional this is an ongoing process. You will need to adapt to a constantly changing retail environment and make LP changes when necessary.