Steve Montgomery

Beyond Shrink Control

February 18, 2010

FROM RETAILWIRE:
We know that loss prevention always becomes a bigger challenge for retailers when the jobless rate grows or stagnates at high levels. What attendees at a workshop during the NGA 2010 Annual Convention held last week in Las Vegas heard is that the current economic downturn also creates a significant opportunity. What loss prevention strategies do you think are most effective today?      [more...]

The practices listed are all good and will likely have a positive impact on shrink. I think to truly be effective, all should be implemented.

Cashier KPIs and others can now be analyzed by software freeing the management to focus on the human factor. One of the tools not mentioned is WIIFM What's In It For Me. I have found that sharing the increase in earning can be a very powerful tool to reduce shrink.