Loss prevention solutions are not just about managing a business' expenses and eliminating wasteful practices. They include both internal and external loss prevention programs, with the former focusing on controlling expenses and waste. Internal loss prevention is about reducing costs incurred as a result of inefficient or unproductive practices. External loss prevention methods deal with reducing external risks such as financial losses from disasters or theft. Both internal and external loss prevention management strategies can be implemented through this link as part of an overall business wellness plan.
As part of loss prevention solutions, an organization should always try to prevent cash loss. Preventing cash loss at the point of sale has become increasingly more difficult as retail businesses have had to contend with more customers who tend to shop online. In order to reduce retail theft, managers should implement policies that provide adequate security measures against employee theft and GPS monitoring for store inventories. Additionally, store inventories should be scanned frequently to catch fraudulent transactions.
In addition to implementing policies to prevent retail theft, loss prevention solutions also help reduce loss from employee theft. Many companies have taken steps to protect themselves from theft at the workplace by installing anti-theft mechanisms in the workstations and on the premises. Installing sensormatic video systems are some of the common measures taken to fight employee theft; however, some companies have gone a step further and employed loss prevention measures such as shrink wrap and shrink bags to reduce the amount of goods that go missing in the workplace.
Shrink bags are one of the best loss prevention solutions available. These plastic bags come in a variety of sizes and are custom made to reduce the amount of space that products can take up when being transported from the store to the customer. This makes them highly useful for convenience stores because they make it easier for workers to carry the items directly to the customer once the work has been completed. These bags are also useful for reducing the amount of clutter and paper that is left in the store by customers who often shop at their nearby convenience stores. Shrink bags are designed specifically to hold a wide variety of products, including pencils, paper clips, cell phones and even pens. By using these plastic bags instead of traditional shopping cart paper, store owners to reduce their exposure to a wide range of chemicals and paper products that can be harmful to both the environment and staff members.
Another benefit of using shrink bags is their use during both internal and external theft. Internal theft refers to incidents where products are stolen from a company's internal workings; these include stealing computers or other sensitive data from inside of the building. While there are several ways in which a company can protect its internal records, no solution is 100 percent secure. There are still several avenues through which items can be stolen during the course of business, including employee negligence. However, by making it harder for employees to steal these items, a company can greatly reduce its risk of incurring external loss.
Shrink bags are also useful in reducing loss from third-party theft. Third-party theft occurs when an individual, not an employee of the company, uses another individual's product without asking for permission first. This is commonly seen in retail stores, though it can also happen in hospitals and government buildings. The act of stealing from a retailer during the course of business helps reduce the amount of loss the business would incur if a customer who purchased the item decided to turn around and shop somewhere else. By placing products in shrinkable plastic bags, these businesses are better protecting themselves from the loss caused by the act of theft. Click in this link for more info: https://en.wikipedia.org/wiki/Electronic_article_surveillance.
