Retail Theft and Inventory ShrinkageSlide 2Retail TheftStatisticsWhere Inventory Shrinkage HappensWhat's the Harm?Stopping Retail TheftStopping Retail TheftReferencesRetail Theft and Inventory Shrinkage Nalinrach SuksathapornPereya SuviwattanachaiSithiphon SuwanboribanRetail Theft•Employee theft •Shoplifting•Vendor fraud•Administrative errorStatistics•2002 Losing $31 Billion to Theft Source - National Retail Security Survey•1.7% of their total annual sales•Last year - Losing $40.5 billion to TheftSource: University of FloridaWhere Inventory Shrinkage Happens Where Inventory Shrinkage Happens Source of Inventory Shrinkage % of Loss* $ Lost Employee Theft 48.50% $15.1 billionShoplifting 31.70% $9.7 billionAdministrative Error 15.30% $4.8 billionVendor Fraud 5.40% $1.7 billionTotal Inventory Shrinkage$31.3 billion*total not equal to 100% due to roundingWhat's the Harm? •Impacts everyone especially Consumers•Average family of four : > $440 this year in higher prices because of inventory theft•Theft’s Target: hot selling items on the holiday shopping season Source: University of Florida criminologist Richard C. Hollinger, Ph.D.Stopping Retail Theft •point-of-sale systems:–detect potential theft problems at the cash register–alert appropriate personnel in real-time –can be tied to digital video recordersStopping Retail Theft•Source tagging programs: - tiny anti-theft labels are placed inside an actual product •Self-alarming anti-theft tags:- broadcast an audible alarm throughout the storehttp://www.youtube.com/watch?v=AT3sz2p7oUgReferences•Retail Theft and Inventory Shrinkage.
View Full Document
Unlocking...