If your profits are disappearing due to shrinkage, you are not alone. Shrinkage costs billions of dollars to retailers each and every year. One of the quickest ways to improve bottom line profit is to reduce inventory shrink and verify all sales are being recorded.

If your focus up until now has been on capturing shoplifters, we need to refocus on discovering methods to prevent theft and protect profit.

Theft occurs wherever opportunity is greatest. It is for this reason that internal theft represents the highest percentage of losses to the typical specialty retailer. According to an Ernst & Young Study of Loss Prevention:

Median loss @ 1.7%
Employee theft 47%
Shoplifting 32%
Paperwork 13%
Vendor 7%
Other 1%

JE Lynch & Associates, LLC retail management consultants will conduct an assessment of your policies, point of sale and bookkeeping procedures to assist you in reducing theft and keeping your associates honest. Furthermore, high-impact locations will be identified and corrected. Both internal and external problem sources will be addressed.

In addition to rewriting procedure, LP software for exception transaction identification may be recommended along with integrity shopping and/or video surveillance.