Effective loss prevention is always a hot topic among retailers, and in a recent infographic developed by Tyco, the security firm highlights the top sources of inventory shrinkage among retailers, as well as potential solutions.
Based on data from the 2011 National Retail Security Survey conducted by the University of Florida, the total inventory shrinkage dollar amount for that year was $35.28 billion dollars, with primary shrinkage sources coming from:
- Employee theft (44.2%; or $15.59 billion)
- Shoplifting and organized retail crime (35.8%; $12.63 billion),
- Administrative (12.1%; $4.27 billion),
- Vendor fraud (4.9%; $1.73 billion)
- Unknown sources (5.3%; $1.87 billion)
Solutions like Retalix’s Connected Cashier Analyzer, Connected ShrinkTrax and Demand-Driven Replenishment applications help provide retailers with greater visibility into their store operations, and help them quickly identify loss prevention opportunities.
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