Loss Prevention Investigator

Loss prevention involves retail and Mall Security reducing the percentage of loss of products. Manufacture and point of sale, shrinkage sometimes called shrink. Shrinkage cost U.S. retailers over $31 billion in 2008 according to the National Retail Security Survey on retail theft. Following are the four major sources of inventory shrinkage in retail:

Employee Theft

According to the National Retail Security Survey, the number one source of shrinkage for retail businesses is internal theft. Furthermore, some of the types of employee theft include discount abuse; refund abuse, and even credit card abuse. Unfortunately, this is one loss prevention area that generally doesn’t receive as much monitoring as customer theft.

Shoplifting

Coming in at a close second is shoplifting. Customer theft occurs through concealment, altering or swapping price tags, or transfer from one container to another. While shoplifting remains a smaller inventory loss source than employee theft, stealing by shoppers still costs retailers about $10 billion annually. As the years progressed, companies were taking extreme measures to curb shoplifting.

Administrative Error

Administrative and paperwork errors make up approximately 15% of shrinkage. Simple pricing mistakes due to markups or markdowns can cost retailers quite a bit. Human error can sometimes be unavoidable, as audits can be expensive.

Vendor Fraud

The smallest percentage of shrinkage is vendor fraud. Retailers report vendor fraud occurs most when outside vendors stock inventory within the store. Our squad is skilled in constant monitoring and surveillance duties to audit vendors and protect your assets.

We can provide your store with security guards or off-duty law enforcement personnel. Security personnel serve as an effective loss prevention measure. Our security team is equipped with former police officers prepared for shoplifters. Companies are all about saving money and making it – please contact us to speak to our Loss Prevention Investigator.

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