Implementing New Loss Prevention

Adrian Beck and Colin Peacock

Chapter 10 in New Loss Prevention, 2009, pp 163-176 from Palgrave Macmillan

Abstract: Abstract In this final chapter we will bring together the various themes covered in the previous parts of this book and seek to identify the key elements necessary for organisations to build, implement and sustain the Loss Prevention Pyramid. It is not meant to be a ‘how to’ guide to reducing stock loss within retail organisations — we leave that to others more qualified in the practicalities of operational shrinkage management. Our purpose has been to provide an overarching framework within which this type of work can be placed and to offer an alternative way of thinking about the shrinkage problems faced by retailers. In many respects what we are proposing is not radically different than that suggested by writers such as Curtis back in the 1950s and 1960s who espoused the importance of developing and monitoring effective retail controls as the primary means of minimising shrinkage (Curtis, 1960). Nearly 50 years ago he was making pertinent comments that fit neatly with our outlook on the problem: ‘good store operations and low shrinkage go hand in hand’ (Curtis, 1960: 802); ‘most of your store losses are caused by carelessness … [which can] lead to theft. You should inject controls into your system to keep errors at a reasonable level (Curtis, 1960: 806); and finally: Do you believe in gadgets? Today there is a dependence by many people on scientific things as a means of shrinkage control. This has often proved to be a false hope. In the end you still need sound operating systems and good supervision. Scientific devices have only a limited value… (Curtis, 1960: 811).

Keywords: Senior Management; Retail Store; Retail Sector; Operational Failure; Loss Prevention (search for similar items in EconPapers)
Date: 2009
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DOI: 10.1057/9780230250727_10

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