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In Today’s Highly Competitive Retail Market….. Can Your Company Afford To Swallow Any Of These Bitter Pills?. Our Retail Professionals Have Been Protecting The Bottom Line For More Than 30 Years!. Contact Hilco For An Enterprise Exposure Check-Up. Click For a Sample Assessment. - PowerPoint PPT Presentation
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IT ServerReceiving
Dock
Compactor
EmployeeEntrance
Cash Office
Power, Water & HVAC Controls
Identity Theft
Contact Hilco For An Enterprise Exposure
Check-Up.
Vendor Theft
In Today’s Highly Competitive Retail Market…..
Can Your Company Afford To Swallow Any Of These Bitter Pills?
Our Retail Professionals
Have Been Protecting The
Bottom Line For More Than 30
Years!
Hilco Asset Protection, LLC • 5 Revere Dr. Northbrook, IL 60062 • Ph: 847-849-2940 • Fx: 847-897-0740 • [email protected]
Compliance Issues
AccidentsPost Voids
Merchandise Passouts
LowEmployee
Morale
High Shrink Items
Inventory Errors
Organized Theft Gangs
Poor Customer Service
Fitting Room Theft
Cashier Underringing
Abusive Discounting
Robbery
Time Card Fraud
Missing Deposits
Receiving Controls
Workplace Violence
Credit Card Fraud
Refund
Fraud
Business Interruption
Click For a Sample Assessment
High Risk Staffing
BollardArc
MainEntrance
Opportunities - External• Key External Exposure Initiatives Include:
– Promote real time training of external theft and inventory loss scenarios
– Enhance customer service and minimize shoplifting through analysis and training of normal shopping behavior and customers purchase patterns
– Evaluate expansion of UltraMax EAS Tags and Systems– Participation in LERP.NET. LERP.NET combines Federal,
State and Local law enforcement with retailers nationwide to track organized retail theft rings (ORC’s)
– Consider Fence Investigations, Law Enforcement Liaison and a Legislative Strategy for ORC’s
– Monitor and investigate internet sites (e-bay) for high shrink items
– Review possible use Public View Monitors and adding networked CCTV
– Evaluate local “chain call networks” for groups of 5 to 10 stores to use to communicate movement of known shoplifter groups.
– Establish the use of name badges to identify store associates
– Recognition programs for associates and locations whose shortage performance exceeds expectations
• Review Existing Refund Policies– Feedback from field interviews was the existing policy was to
liberal– Refund policy is not consistent with competitors– Existing refund policy may be affecting morale of associates
asked to protect store inventory • Communicate Key Loss Items
– Only one of eight executives interviewed knew the top three classes of inventory shortage at their location
– Consider cycle count select key loss items in Target stores
Implementation of the following recommendations have the potential to immediately reduce current inventory shortage by 22% to 35% (at retail), drive sales, enhance customer service and elevate associate morale
Inventory Shortage and Loss Prevention Assessment
S A M
P L E
Opportunities - Internal• Key Internal Exposure Initiatives Include:
– Redesign and Re-energize new hire, periodic training and orientation loss prevention programs
– Develop a collaborative approach with stores to identify opportunities to reduce inventory exposure
– Promote real time training of current internal theft and inventory loss scenarios
– Establish store design enhancements of display, fitting rooms, sight lines, etc to preempt shortage
– Establish anonymous internal hotline and ensure aggressively promoted
– Conduct comprehensive associate survey– Establish target program for all high shrink locations– Consider employee background screening and employment
verification – Intensify of store audit program in high risk locations– Expand exception reporting investigations– Integrate loss prevention audit results and inventory
shortage performance to managements shortage incentive bonus
– Evaluate existing refund policies impact on internal theft – Recognition and award programs for associates and
locations whose shortage performance exceeds expectations
• Immediate response to internal investigations at Target locations
– Source additional investigative resources based on current loss prevention staffing
– Increase prosecution rate– Enhance zero tolerance to theft standard
• Consider the use of clear plastic employee lockers– Difficult for employees to hide merchandise in these lockers
• Establish integrity shopping service program from an apprehension and deterrent perspective
– Aggressively promote the integrity shopping program
For Further InformationContact
Mike Gilligan • Ph: 847-849-2940 • email: [email protected]