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Loss Prevention Best Practices

Industry Best Practices & Education


As leaders within the retail industry, LPI authors and provides best practices to help retailers be more successful. We believe that education is a key factor in generating awareness and preventing loss and welcome you to our library of best practices.

 

Preventing Gift Card Fraud

Gift cards have become the perfect gift from many consumers, so have they become a greater means of fraudulent activity. From employee theft to organized retail crime, gift cards or stored value cards are the new “plastic” for securing stolen funds. Learn more about how theft occurs using this form of tender and how you can protect your store from loss. READ MORE...


Operational Audits vs. Shrink Audits: What type is best for you?

The practice of auditing store locations has become a great way to provide a snapshot of the health of a store location. Many retailers struggle with the type of audit they should enact. This best practice guide discusses the differences between the two main types of audits; Operational vs. Shrink. READ MORE...


Discount Abuse: Should We Discount Violations of Employee Discounts?

If we were to shade a big gray area between "crime" and "policy violation," most assuredly we could name that swatch "the land of discount abuse." For retailers, especially loss prevention associates, discount abuse is at best a severe policy violation, and at worst a crime. However, that distinction is critical as it determines the outcome for the violator and represents the area where retailers are most likely to make inconsistent decisions. READ MORE...


PCI and Exception-based Reporting: Protecting Report Integrity

With PCI Data Security Standards now some retailers are still trying to determine the best approach to protecting their cardholder data. Those who utilize an exception-based reporting application most certainly need to understand how the chosen approach may or may not affect their ability to properly detect fraud using their EBR System. Understand the different means of protecting cardholder data and determine which may be the best approach for your loss prevention efforts. READ MORE...

 

Researching Your Inventory Results: How Deeper Analysis May Reveal Shifts in Your Target Program

When new inventory cycles approach, most retailers look at individual shrink results to determine which stores require special or “target” attention. How you look at your shrink results may or may not indicate the best approach to determining target locations that if neutralized will improve your profitability. Read how to take a different approach beyond simple shrink percentage analysis. READ MORE...


The Top 10 Mistakes Made During Inventories (And how to avoid them!)

Regardless of your retail segment, when inventory season comes around it can be a time that requires accuracy and perfection. A great percentage of retailers unfortunately find that small mistakes from the past can easily add up to some costly consequences at inventory time. Learn the top 10 mistakes and how you can avoid making them. READ MORE...


Check & Double Check: The Benefits of a Non-Biased Audit

For many retailers, Store Audits are conducted primarily by their operations team; however, in many cases, loss prevention is just a small part of their overall responsibilities. In some cases, these audits take a backseat to more urgent issues, and for others, Store Audits become so repetitive and frequent in the same location that they become routine. Learn how benefits of a non-bias audit and how they can improve overall store compliance. READ MORE...

 


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