Loss of inventory is one of the biggest problems retailers face every day. No matter what type of merchandise they sell. Retailers lose about 5 billion a year to theft, errors, and damage. That’s a big deal! Retailers are constantly looking for ways to reduce their losses from eliminating shoplifting, to reducing internal errors in shipping and accounting.
The risk of inventory loss sometimes can outweigh a retailer’s resources for managing it, but thanks to technology for coming up with devices any retailer can use in his/her store to manage inventory shrinkage/loss.
I’d like to share with you 5 antitheft devices every store should have to prevent theft and inventory shrinkage:
- A good inventory management software
One of the most effective devices to prevent inventory loss is smart and frequent inventory management. If you are not clear as to what items are in your store or warehouse then how will you know when something goes missing?
By watching your inventory like a “hawk” through regular stock counts and monitoring discrepancies, many retailers dramatically decrease theft at their stores by using smart barcode scanners to do stock takes to accurately account for your inventory levels is helpful.
Another key measure retailers use is by monitoring user permission levels of their staff for operating the POS system. This allows you to set different permission levels, so only key employees can edit data on your system.
Taking these steps will ensure you know when something goes missing, which prevents culprits from stealing your products
- Video Analytics & Cameras
Having a surveillance camera at key points around your warehouse or retail store, complemented by video analytics software can be a remarkable theft prevention formula. Whenever any kind of suspicious movement occurs, this software identifies, for instance, if a shoplifter picks something and tries to walk out of the shop, you will be able to get an alert.
You can also pinpoint the likelihood of theft with greater accuracy with information on incoming & outgoing people count. It becomes easy to identify known thieves, by matching them against an existing database of thieves supplied to you by police.
- A Good Electronic Article Surveillance system
Having a variety of tools like security tags, stickers, labels, and cables that are paired with sensors that sound an alarm whenever a stolen item is taken out of the store or a tag is tampered with or forcefully removed.
For Instance, there are also hard tags that go perfectly with clothing, Insertable label tags, and footwear tags for high-end shoes. If a shoplifter ever tries to remove the hard tag the clothe will tear and the alarm will also ring when the shoplifter tries to leave the shop.
Reminding customers, they’re being watched, and what the consequences of shoplifting can be through installing anti-theft signage across the entire store, retailers instantly warn potential thieves from acting unlawfully.
This simple solution does help reduce the number of thefts in your store though more seasoned thieves would simply ignore these things.
Installing mirrors in your store gives your staff and security team improved visibility, especially of areas that would otherwise be hidden from view., and that means your team won’t have to work as hard to monitor the store.
Also, shoplifters don’t like attention, and mirrors, just like CCTV cameras make them feel like they’re constantly being watched.
In conclusion, keep in mind that the more security measures you put in place, the harder it becomes for would-be shoplifters to commit a theft. Invest in theft prevention, while monitoring inventory levels closely, and you’ll prevent losses from happening in the present. By implementing some of the devices above, you can become a more profitable, smart and efficient retail enterprise!
By Carolyne Rabut