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Episode Info: Loss Prevention Procedures are the Glue that Prevents Retail Theft Employee theft is always the most likely suspect in large inventory loss Shoplifting loss is the most controllable expense, but needs a plan Loss prevention procedures reduce employee theft and shoplifting Interview by Mike Bederka with Small Business Smarts Podcast Time Stamps: [02:30] -- Retail security consultant can help design loss prevention procedures [03:15] -- Interview begins with Mike Bederka at Small Business Smarts [03:30] -- Employee theft and shoplifting account for most inventory loss [04:30] -- Existing staff not always suitable following a large inventory loss [05:20] -- Many owners feel they cannot control chronic shoplifting [06:30] -- 99% of customers act similarly while shopping; Shoplifters do not [07:20] -- How can a retail stores eliminate shoplifting blind-spots [08:58] -- Excellent customer service is best  solution to thwart shoplifters [10:00]-- Watch for areas frequently used by shoplifters for product staging [11:05 ]-- Genuinely greet every customer by looking at them in the eye [11:35] -- Keep all merchandise "faced" on the shelves to spot missing bottles [12:35] -- Some liquor store serial shoplifters always steal the same items [15:15] -- Best run stores train and enforce detailed loss prevention procedures [16:05] -- Employee thieves like to blame bad inventory loss on shoplifters Podcast about preventing employee theft and shoplifting lossTweet This Loss Prevention Procedures with Reduce Employee Theft and Shoplifting Losses Loss Prevention Procedures Cut Inventory Loss Liquor, wine, spirits, and beer super stores as large as 25,000 square feet People under 21 years are sometimes excluded from browsing in a store High retail prices make bottles of liquor, wine, and spirits a theft target Loss Prevention Procedures are your tools to reduce inventory shrinkage Procedures need to be clearly defined, well articulated, and enforced High standards in hiring, training, and closely supervising employees is required Holding employees accountable for accurately following procedures is key Loss prevention procedures provide the audit trail needed to check performance Inventory control requires consistent execution of loss prevention procedures Shoplifting occurs in a store you own, control, and set the rules of engagement Shoplifting occurs when liquor store staff are passive and inattentive Well-organized liquor wine spirits specialty store displays helps spot bottle loss Technology is the back up not replacement for good loss prevention procedures Related Loss Prevention Procedures Articles & Podcasts Convenience Store Security and Loss Prevention Briefing 10 Things Loss Prevention Agents want Shoplifters to Know 10 Things Shoplifters Don’t Want You to Know Shoplifting Advice: Retail theft of merchandise Learn More about Premises Liability Litigation Download the book written by Crim...
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