About the Beauty Retailer
This beauty retailer operates more than 2,000 stores across the United States, Puerto Rico and Canada. They’re a leading international specialty retailer and distributor of professional beauty products, offering over 6,000 products for hair, skin, and nails.
A New Solution
Their VP of Loss Prevention realized that the in-house Loss Prevention tool was no longer meeting the department’s needs and began looking for an alternative solution. The retailer required a unified system that could track incidents, investigations, and audit functions. ThinkLP was selected as the cloud-based solution provider because it was a flexible, modern and mobile platform that also met stringent data security and privacy requirements. Since implementation, the beauty retailer has expanded the platform into one central source of loss prevention information.
Automating the LP Department
The large number of locations presented a challenge to the team with just 16 field LP members covering over 2,000 store locations. Starting with Case Management, Incident Management, and Auditing, ThinkLP improved the Loss Prevention Department. The retailer was able to realize an immediate ROI by automating all areas of existing Loss Prevention activities and workflows, including sending notifications of specific incidents to the right people, streamlining the case management workflow, and scheduling mass audits at specified times. The LP team reduced office time by more than 25%, translating into more field time to work on troubled areas rather than producing reports and following up.
The Power of ThinkLP Realized
The beauty retailer’s current VP of Loss Prevention has seen the power of ThinkLP first-hand:
“In the two months that I’ve had the opportunity to work with ThinkLP, I have come to realize that this should be one of the first tools an LP department should implement. The platform not only supports LP, but also builds a link with other departments within your organization.”
With initial success, the next step identified other opportunities to employ the platform for inventory over/short management, budgeting, metrics, check requests, reporting, restitution, investigations, compliance, key requests, reporting, dashboards, and LP service requests, among others. With centralized information, the retailer now has one-tap access to real-time store profiles.
Streamlining Service Requests
The LP service request process was identified as an area for significant time optimization. ThinkLP streamlined LP service requests from stores along with corporate approvals and external vendor integration with full vendor payment processing to match expense budgeting for real-time spend metrics. This allowed the team to streamline communication, closely monitor and optimize expenditures, and service stores faster.
ThinkLP is an all-in-one Loss & Safety Intelligence Platform that tracks the impact of your LP / AP, safety, and risk efforts with comprehensive reporting for individual locations up to the corporate level.
Our simple to use, front-line tools make incident reporting, investigations, automated task assignment and audit completion easy for employees and managers. Executives get streamlined reporting with a single view into all loss data to quickly formulate data-driven insight. Run your department on ThinkLP from any device!
Start the Conversation
ThinkLP partners with companies to make an impact on their bottom line through incident reporting, case management, Smart audit, analytics, and exception reporting modules.
Let’s talk about how you can harness the ThinkLP Loss Prevention platform for your own success.
