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Retail Theft and Inventory Shrinkage

Retail Theft and Inventory Shrinkage. Nalinrach Suksathaporn Pereya Suviwattanachai Sithiphon Suwanboriban. Retail Theft. Employee theft S hoplifting V endor fraud A dministrative error . Statistics. 2002 Losing $31 Billion to Theft Source - National Retail Security Survey

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Retail Theft and Inventory Shrinkage

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  1. Retail Theft and Inventory Shrinkage Nalinrach Suksathaporn Pereya Suviwattanachai Sithiphon Suwanboriban

  2. Retail Theft • Employee theft • Shoplifting • Vendor fraud • Administrative error

  3. Statistics • 2002 Losing $31 Billion to TheftSource - National Retail Security Survey • 1.7% of their total annual sales • Last year - Losing $40.5 billion to Theft Source: University of Florida

  4. Where Inventory Shrinkage Happens

  5. What'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.

  6. 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 recorders

  7. Stopping 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 store http://www.youtube.com/watch?v=AT3sz2p7oUg

  8. References • Retail Theft and Inventory Shrinkage. <http://retailindustry.about.com/od/statistics_loss_prevention/l/aa021126a.htm>.

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