India Retail News

Loss Prevention: Bringing Executive and Management Perspectives into Alignment

Protiviti

With annual retail shrink at 1.59% of net sales, a figure that adds up to $40.5 billion for the retail industry, it is no wonder that loss prevention is a high priority. Retailers are making significant investments in their loss prevention programs, devoting time and money to such areas as theft and fraud, shrink management, safety, training and awareness, and compliance auditing. While these investments in loss prevention programs are essential, the ultimate success of the programs is dependent upon the individuals managing and implementing them.