LOSS PREVENTION & PILFERAGE CONTROL
When it comes to controlling retail shrink, detection means protection. This applies to both direct merchandise theft and register-based fraud, each of which typically accounts for roughly half of total employee theft. It’s a serious challenge: Estimates suggest that close to half of all dollars lost to shrink are attributable to employees—the largest overall portion—when compared with consumers, vendors, or errors.
These days, basic surveillance simply isn’t enough to guarantee that your retail loss prevention efforts will bear fruit. Any serious attempt to combat losses must also involve comprehensive POS systems data analysis and exception based reporting to identify unauthorized discounts, “sweet hearting,” invalid returns, and cash shortages. However, traditional loss prevention methods simply cannot keep pace. By relying on manual exception based reporting procedures and point-of-sale analysis, it could take weeks to audit the registers of even a single store. And calculating permutations of transactional activity to highlight patterns and trends would be almost impossible.
- View exceptions that are automatically collected and organized hierarchically according to three levels of severity.
- Choose from more than 75 system-defined KPIs applied to different types of transaction.
- Build your cases of internal theft or shoplifting and maintain all case information in one location.
- Use multiple investigation tools including graphs, scoring schemes, reports, ad hoc queries, and a transaction location.
- Choose from many predefined reports or create your own queries.
- Access commonly used functions over the Internet.
- Shorten the intervals between detection, investigation, and resolution.
- Deter employees who may be tempted to supplement their income at your expense with video surveillance.
- Identify the need for additional employee training.
Pilferage Control at Retail Outlets and Warehouses:
If the owner of a business is not sitting at a retail outlet, pilferage control becomes a challenge. Candela enables the management to track the movement of goods at different retail outlets. Reconciliation between head office and retail outlets is done by the system and differences, if any, are tracked within seconds.
- Product audit to check the entire movement of stocks
- Re-conciliation capability to compare the head office and retail outlet records
- Daily movement and in-transit stocks tracking
- Analysis of wastage trends – physical audit and stock movement