Pushing Out Profits: Loss Prevention’s Missed Opportunity
Retail Loss Prevention. These three words have consistently drummed up instant visuals of catching shoplifters and terminating dishonest employees. In
recent years, thoughts of brand protection and Safety have joined the fray. Retail Loss Prevention is a career that is very rewarding to those who have chosen this field of endeavor, and for good reason: The value brought to organizations who have entrusted Loss Prevention teams to protect their assets has been immeasurable- quite literally. In fact, trying to accurately measure “prevention” is nearly impossible because one could never calculate who chose not to steal merchandise or who chose not to rob a store due to the preventative measures the Loss Prevention team had put in place. Part of the reason the amount of prevention is hard to quantify is many Loss Prevention teams are consistently asked by senior executives to only report theft statistics, shrink statistics, and in some cases, safety statistics. This tunnel vision held by so many senior company executives can sometimes tie the hands of Loss Prevention teams, thereby preventing LP from escaping this same confining tunnel.
Escape this confining tunnel and discover a few assets Loss Prevention
teams should be protecting that senior executives would love to hear about, especially when protecting those assets helps increase sales in Calibration Group’s most recent whitepaper entitled, Pushing Out Profits: Loss Prevention’s Missed Opportunity.