Understanding Inventory Shrinkage Inventory shrinkage refers to the discrepancy between a retail store’s recorded inventory and the actual inventory. This can occur due to a variety of factors including theft, administrative errors, or vendor fraud. The impact...
Loss Prevention Definition The essence of loss prevention lies in pinpointing potential threats and weak spots within business operations. This is followed by crafting and executing preventive strategies to effectively manage these risks. A loss prevention...
What is Loss Prevention? Loss prevention refers to the strategies and measures implemented by businesses, particularly in the retail sector, to minimize theft, fraud, and inventory shrinkage. This encompasses a broad range of practices, from employing security...
Canadian Business unveils annual list of Canada’s Fastest-Growing Companies Waterloo, ON – October 15, 2020 Canadian Business today ranked ThinkLP No. 44 on the 32nd annual Growth List, the definitive ranking of Canada’s Fastest-Growing Companies. Produced by Canada’s...
Powering The Digital Transformation Of Loss Prevention Transforming how Loss Prevention Teams Work Influential leaders operate concurrently at multiple levels: strategic, tactical, and practical. To accomplish anything of value, you need to know where you are going,...
Tackling ORC with Technology By Tony Sheppard, LPC The year is 1994 and a spry new store detective follows “DeFazio” out the door onto Michigan Avenue. “DeFazio” has just stolen an entire rack of winter jackets and is headed to a waiting car. That spry store detective...