New Loss Prevention Redefining Shrinkage Management

by Beck, Adrian; Peacock, Colin

• ISBN13: 9780230575837
• ISBN10: 0230575838
• Format: Hardcover
• Copyright: 2009-11-15
• Publisher: Palgrave Macmillan

Summary

Challenging existing ideas about not only what constitutes retail shrinkage, but also the approach that should be adopted to deal with it, it critically examines how current approaches to managing shrinkage are at best preventative, and how through operational excellence, organisations can reduce the impact it has on their profitability.

Author Biography

ADRIAN BECK is a Reader in Criminology and Head of the Department of Criminology at the University of Leicester, UK.
 
COLIN PEACOCK has worked for Procter & Gamble for over 25 years in sales and marketing assignments and for the last 10 years he has led their global on shelf availability and shrinkage capability.

Table of Contents

List of Figures and Tables	p. x
List of Abbreviations	p. xi
Introduction	p. 1
Research methodology	p. 4
Structure of the book	p. 5
New loss prevention	p. 6
Acknowledgements	p. 7
Retailing and Shrinkage in Context	p. 8
A short history of retailing	p. 9
Help yourself-Self selection in retailing	p. 12
Challenges of complexity	p. 15
Specialisation and competition	p. 19
Technologies and retailing	p. 20
Going global-Shrinkage across frontiers	p. 22
21st century retailing and shrinkage	p. 25
Defining Shrinkage	p. 27
What is shrinkage?	p. 27
The four æbucketsÆ of shrinkage	p. 28
Known and unknown shrinkage	p. 34
Malicious and non-malicious shrinkage	p. 36
Contextualising shrinkage	p. 37
Putting a value on shrinkage	p. 38
Reframing shrinkage	p. 42
Scale and Extent of the Problem	p. 44
Scale of the problem	p. 44
The cost of managing shrinkage	p. 48
Indirect costs of shrinkage	p. 49
Retail risk and shrinkage	p. 50
Goods vulnerable to shrinkage-Hot products	p. 51
Hot products-Malicious and non-malicious	p. 55
Estimating the causes of shrinkage	p. 56
Getting to grips with shrinkage	p. 59
Understanding Shrinkage	p. 60
Malicious shrinkage	p. 60
External theft-The æbogeymanÆ of shrinkage?	p. 60
Internal theft-The enemy within?	p. 67
Inter-company fraud-Process driven loss?	p. 75
Process failure-The acceptable face of shrinkage?	p. 77
Understanding shrinkage	p. 83
Traditional Approaches to Loss Prevention	p. 84
A regrettable yet inevitable function	p. 86
Crisis driven shrinkage management	p. 87
Living in a data desert	p. 87
Loss prevention as security	p. 90
Policing retailing	p. 91
Working in isolation	p. 92
Myopic management	p. 93
Constantly searching for the æbogeymanÆ of shrinkage	p. 93
Seeking the technological æfixÆ	p. 95
Old loss prevention-Turning the corner	p. 98
Operational Failure as a Driver of Shrinkage	p. 100
Understanding operational failures	p. 101
Opportunity through operational failure	p. 103
Operational failure and malicious shrinkage	p. 107
Operational failure and non-malicious shrinkage	p. 109
Focusing on operational failures first	p. 109
Operational failure as a driver of shrinkage
Identifying Operational Failures	p. 113
Key principles	p. 113
The Shrinkage Road Map	p. 115
Road map case study	p. 127
Identifying operational failures	p. 127
Introducing New Loss Prevention	p. 129
Strategic factors	p. 131
Organisational factors	p. 138
Operational factors	p. 158
New loss prevention: The loss prevention pyramid	p. 161
Implementing New Loss Prevention	p. 163
Breaking the shrinkage ælife cycleÆ	p. 164
Time for change	p. 165
Adding value to the business	p. 166
Loss prevention as agents of change	p. 167
Opportunity, shrinkage and operational failures	p. 168
Taking a journey on the Shrinkage Road Map	p. 170
Getting started: Tipping points and securing senior management commitment	p. 171
Collaborating on shrinkage	p. 172
The role of technology in shrinkage management	p. 174
Breaking the Shrinkage Cycle: The loss prevention pyramid	p. 175
New loss prevention	p. 176
Bibliography	p. 177
Index	p. 187
Table of Contents provided by Ingram. All Rights Reserved.

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