Business

Three Techniques for Loss Prevention

Running a retail business is hard work. Especially starting out, you’ll spend long hours to eke out a small profit. Because you put so much time and money into your business, you’ll want to ensure your inventory is all properly sold. Loss prevention refers to any activities which are meant to achieve this goal. Shopkeepers can employ a large number of loss prevention strategies.

Three Techniques for Loss Prevention

Physical Security

The old-fashioned way of securing your wares is with the use of security personnel. Loss prevention agents work individually or in teams, usually posing as customers on the shop floor. You can hire your own employees, or contract with one of your local security guard services new orleans to do the job. The advantage of professional guards is that many have prior police or military backgrounds. They’ll have training to detect, capture and hold shoplifters in compliance with the law, minimizing your risk of a potential lawsuit.

Technical Measures

Apart from human guards, a little technology can also work wonders. A range of anti-theft devices can be installed on individual items of merchandise. These are special magnetic tags which set off alarms when customers try to sneak goods out of the store. More sophisticated loss prevention technologies for your whole premises include CCTV cameras and burglar alarm systems. Technical solutions are especially effective against inside jobs by crafty employees, who have more creative methods of stealing your stock.

Business Best Practices

You can do a lot to protect your assets by running your business logically and efficiently. Keep your store organized, both in terms of the physical layout of merchandise and employees’ access to inventory and information. Lock all sensitive areas of the store when not in use. If you’re struggling, there are many resources to help you create a successful loss prevention plan.

In the retail world, a certain amount of shrinkage is unavoidable. Good loss prevention practices can keep your nonpaying customers’ hands off the merchandise.