As retailers continue to search for ways to reduce costs in order to stay competitive, while at the same time raising wages in response to political and societal pressures, shrinkage is an area ripe for revenue recovery opportunities. Recent National Retail Security Surveys and 2014’s Global Retail Theft Barometer Study estimate the cost of shrinkage to US retailers in the range of $42-44 billion annually (depending on which survey’s numbers you go with). Theft by associates and customers account for 75-80% of those losses…well over $30 billion annually. The remaining 20-25% is caused by administrative errors, damage to inventory, vendor fraud and other miscellaneous issues....Read More
Systems Alliance Blog
Are you using policies and procedures (P&Ps) to satisfy regulatory requirements or to accelerate workforce performance and results?
Many organizations use P&Ps to mitigate legal risk; we think that’s important but it’s just as important to ensure consistent delivery of products or services. So instead of thinking of P&Ps as a defensive measure or “checking the box” to avoid legal exposure, consider using this process as a way to improve the efficiency of operations, reduce costs and to increase the quality of products or services....Read More