Shrink Management: Plugging the Loss Leaks

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Saturday, April 3, 2010

The latest Retail Theft Study, sponsored by Checkpoint Meto and released in November 2009, reported astounding shrink figures that have markets reeling worldwide.

Wrong End Up
The study records an increase in retail and industrial loss of alarming proportions. Theft, employee error, product waste, and mismanagement (procedural errors) filled the top slots of causes of the total $115 billion shrink reported, up 5.9%. Considering the drastic increase, paired with reduced sales figures—both probably caused by the global recession, inventory and asset control have never been more important. Checkpoint Systems offers several solutions.

IncidentReporter
Before any long-term remedy can be instituted, business must first identify where losses occur and formulate theories why. IncidentReporter fully customizes to your retail or individual needs to assist in finding a tailored solution. The online software is easy to learn and use on your Windows®-based PC, so little time is lost learning the software. From format consistency, degree- or action-level alerts, and documentation availability for possible recourse, IndentReporter provides full-scale shrink detail to the business owner.

CaseManager
Fraudulent activity from in-store activity is a large, ongoing problem. CaseManager provides the tool businesses need to identify, track, and stop in-store inventory losses. Once the easy identifying and tracking functions are completed and verified, quick recourse avails itself via one-click documentation. Whether civil or criminal action is taken, CaseManager pays for itself quite quickly by keeping non-recovered goods or costs to a minimum.

CheckPro Manager
For those retailers using Electronic Article Surveillance (EAS) systems, CheckPro Manager tightens the security net. Compatible with all EAS systems, CheckPro Manager helps you identify weak spots in employee training, unifies systems management across multiple locations and even different departments within one location. CheckPro Manager even extends your peace of mind by sending you emailed or pager alerts after hours—when burglars most often strike.

Summary
With these and other Checkpoint Meto tools that improve security and inventory control measures, businesses can reduce costs and aggravation and vastly boost their profit margins.

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