Online Safety Community

Understanding the ways of conducting shrink investigations

Shrink investigation is essentially about examining the causes of shrink (loss) in retail businesses. Although retail is one of the fastest growing areas of business, the possibility of shrink is very high in this area. It is also an overlooked area, because of which many shrinks that could otherwise have been prevented, do not get prevented.

Controlling losses is as important as making profits. In fact, it even precedes profit making. A shrink investigation is a means to understanding where the losses lie and what causes them. This should help them to formulate policies and procedures that help them do this. Mapping audit practices to established procedures is important in helping to identify the source of loss. A shrink investigation is ideal for serving these purposes.

A major means for controlling retail losses

A shrink investigation is very important when one considers the fact that a third of all retailers suffer losses that are both unidentified and uncontrolled. Most retailers fail to realize that carrying out a shrink investigation requires a sense of direction and purpose, periodicity, prolificacy, and proactivity.

A webinar from Compliance4All, a leading provider of professional trainings for all the areas of regulatory compliance, will help you expand your thinking and set you on new horizons of shrink investigation. This webinar will be presided over by the highly experienced and acclaimed expert on law enforcement, criminal investigation, loss prevention and fraud examination, John E. Grimes III.

To benefit from John’s wide-ranging and solid experience, register for this webinar by visiting http://www.compliance4all.com/control/w_product/~product_id=501274L...

In this session that personnel connected with the retail industry, such as Small Retail Business Owners, Managers, Auditors, Loss Prevention Professionals and Fraud Examiners will find very useful, John will impart a clear idea of all the elements of a shrink investigation.

Learning on all the aspects of shrink investigations

Attendance at this webinar will equip participants with a crystal clear understanding of the process needed for conducting a shrink investigation. These include covert observation of the store; a review of policies and procedures; a review of practices that are in contrast to established best practice procedures; a review of point of sale data including refunds and voids; taking frequent inventories; delivery audits; and paperwork review.

During the course of this 90-minute session, John will cover the following areas:

·        What causes Shrink (Losses) in a Retail Environment

·        The importance of having overarching Policies and workable Procedures to control shrink.

·        Understanding the steps to perform a Shrink Investigation when the source of losses is not identified through normal business operations procedures and practices. This webinar will discuss the steps, which include:

o  Covert observation

o  Undercover shoppers.

o  Review of policies and procedures

o  A review of point of sale data

o  Store meeting

o  Employee Interviews

o  Surprise Delivery Audits

o  Paperwork review

http://blog.lpinnovations.com/Loss-Prevention-Leadership/bid/76560/...

Views: 11

Comment

You need to be a member of Online Safety Community to add comments!

Join Online Safety Community

Take our poll!

Take our poll!

Latest Activity

Training Doyens posted events
1 hour ago
Training Doyens updated an event
Thumbnail

Form I-9 Compliance at 26468 E Walker Dr, Aurora, Colorado 80016-6104

January 25, 2018 from 1pm to 2pm
OVERVIEWDon't spend another day worrying that you and your organization might end up in legal trouble from immigration law violations. The crucial information provided in this one-hour webinar will give you the knowledge and know-how needed to ensure your documentation is filled out appropriately, your records are kept correctly and your organization is legally compliant.WHY SHOULD YOU ATTENDImmigration law is one of the most pertinent and publicized issues in the United States right now.…See More
2 hours ago
John Robinson posted a blog post

The FDA's requirements for non-IND Foreign Clinical Studies

The FDA grants marketing approval for certain types of medical products whose application is the result of foreign clinical studies, provided the products and the clinical studies meet certain conditions. The types of medical productshttps://globalcompliancepaneltraining.files.wordpress.com/2017/12/the-fdas-requirements-for-non-ind-foreign-clinical-studies-2.jpg?w=800&h=504…See More
21 hours ago
Training Doyens posted an event
Thumbnail

Excel - Pivot Tables 101 at 26468 E Walker Dr, Aurora, Colorado 80016-6104

December 20, 2017 from 1pm to 2:30pm
OVERVIEWPivot Tables are one of the most powerful tools in Excel’s data analysis and Business Intelligence (BI) armory. With just a few clicks of the mouse (and no complicated formulas!) you can quickly and easily build reports and charts that summarize and analyze large amounts of raw data and help you to spot trends and get answers to the important questions on which you base your key business decisions.WHY SHOULD YOU ATTENDLearning how to create Pivot Tables is one of the must have skills…See More
yesterday

Forum

PEGA Axis error: Parser already accessed

We have a PEGA frontend, from in which we're keying in double byte characters like japanese and being send to allotted java webservice through axis. this is working best when we ship singlebyte…Continue

Tags: pega_training, pega_online, pega

Started by Soujanya Naganuri on Thursday.

VMware player error on install vmware tools.

 I've installed the last version of VMware player (4.0.2) and created a virtual machine with ubuntu 10.04. However, some operations with …Continue

Tags: training, online, vmware

Started by emmablisa Dec 1.

All About QlikView

QlikViewQlik relies on sophisticated analytics that enables data discovery using an in-memory engine to analyze data for patterns not visible via SQL data structures or queries. The company’s two…Continue

Tags: Safety, Qlikview

Started by nicolewells Nov 25.

Occupational Health and Safety 5 Replies

Health and safety are important aspects of an organisation’s smooth and effective functioning.  Did you know that workplace health & safety injuries cost Australian businesses over $60 billion…Continue

Tags: Safety, and, Health, Occupational

Started by WHS Solutions. Last reply by Tara safe Nov 16.

QlikView for its Safety Strategic Business Intelligence Solution Worldwide

QlikTech (NASDAQ:QLIK), a leading…Continue

Tags: Qlikview, safety

Started by nicolewells Nov 15.

Badge

Loading…

© 2017   Created by Safety Community.   Powered by

Badges  |  Report an Issue  |  Terms of Service