What You May Not Know About Criminal Background Checks

Criminal background checks should be used for certain employment positions at every company. These positions should include senior management, those w/ access to significant cash or assets and those in a work location where an employee could present a difficult to manage danger to other employees (e.g., a remote location). To make the best use of background checks a company needs to define a policy, consider situations that may arise and develop procedures for such situations (e.g., paragraph 2 above), define which employment positions require a background check, and administer the checks consistently and without bias.

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Store Self-Audits an Integral Part of Loss Prevention

An effective loss prevention function requires a well-designed program of policy and procedures, effective training to communicate not only the “what” stores must do but, more importantly, the “why” or purpose of the procedures, a self-audit designed to validate that the highest priority procedures are consistency executed, and periodic performance of the self-audit by an independent function (e.g., loss prevention, store operations, internal audit).

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The Argument for Analyzing Physical Inventory Results

My experience with physical inventories is that most companies are so relieved that the physical inventory is complete, they just wipe their brow and move on to other things. Sure they calculate the inventory shrink results, double-check large discrepancies to identify possible counting errors, and create follow-up plans for locations with poor results; however, truly analyzing the results to identify opportunities for process improvement rarely occurs. This is a mistake.

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Leveraging Alarm System Reporting for Asset Protection

Virtually all companies implement alarm systems in all of their locations. In the vast majority of these cases the purpose is intruder detection and notification to security employees and law enforcement of break-ins and related events. Most of these alarm systems provide a wealth of data regarding the times, dates, and employees that activated or deactivated the alarm. Utilizing this data within a robust asset protection program that requires incident reporting of alarm events and follow-up on alarm events that are not adequately explained by an incident report will not only mitigate the largest inventory shrink risk (off-hours internal theft) but also clearly demonstrates the company’s commitment to asset protection.

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Using On-hand Inventory for Predictive Analytics (Predictive Analytics for Loss Prevention Series)

The transaction activity and on-hand inventory that is available from retail perpetual inventory systems provides a wealth of information. While some retailers apply robust analysis tools, techniques and procedures to this data, many small to medium-sized entities (SMEs) do not. The flow of products through your store or your distribution center (DC) is the lifeblood of your business. A well-run business leverages this information to identify issues and drive success.

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