Retail losses extend beyond the visible issues of theft and damage, encompassing a complex web of factors such as administrative errors, supplier fraud, and markdowns that all contribute to Total Retail Loss (TRL). Read on as we will dissect the complexities of...
What is Loss Prevention? Loss prevention refers to the strategies, practices, and tools implemented by retailers and businesses to minimize loss and protect profits. This encompasses a broad range of activities designed to prevent theft, fraud, administrative errors,...
The following article provides an in-depth exploration of the loss prevention definition, offering LP professionals the knowledge and tools necessary to effectively minimize risks and protect their business’s bottom line. What is Loss Prevention? Loss prevention...
What is Retail Security? Retail security refers to the measures retailers take to protect their businesses, employees, and customers from potential threats. These threats can range from physical theft and vandalism in brick-and-mortar stores to online fraud and cyber...
Understanding Inventory Shrinkage Inventory shrinkage refers to the discrepancy between a retail store’s recorded inventory and the actual inventory. This can occur due to a variety of factors including theft, administrative errors, or vendor fraud. The impact...
