Course Info
Code IND09-104
Duration 5 Days
Format Classroom
Course Summary
Retail loss prevention is a set of business practices and strategies used in the retail sector to prevent inventory and financial loss. Annually, thousands of millions of pounds are lost in just external thefts such as robbery and cybercrime. This figure doesn’t account for internal theft, errors, or additional factors such as natural disasters or civil liabilities and litigation.
This course provides you with the skills to design and implement a comprehensive retail loss prevention programme. You will identify the different loss threats, examine strategies for risk control, and analyse data to locate and prioritise threats. Through understanding your unique organisation’s risks and realities, you will incorporate asset protection in your loss prevention programme to reduce the probability of errors and crime events.
- Identify and categorise the most common and costly areas of loss.
- Recognize and prioritise loss threats using loss prevention strategies.
- Use data analysis to identify trends and threats.
- Develop, implement, and maintain an effective loss prevention programme to reduce a variety of risks.
- Assess the efficacy of your loss prevention programme.
- Retail Owners, Managers, and Professionals
- Any retail-related professionals including distributors, commercial property managers, and manufacturers
This course uses a variety of adult learning styles to aid full understanding and comprehension.
Participants will review case studies to highlight key areas of importance and possible areas for faults.
They will be supplied with the best tools required to carry out learning exercises to improve their skills. Participants will analyse the examples to gain a thorough understanding of how these skills, techniques and methods apply in the workplace.
Course Content & Outline
- Identify employee-related risks: Error, Waste, Theft, and Under-ringing.
- Discuss errors and theft at the vendor level.
- Examine points for cargo theft and supply chain loss: Shipping, Staging, Loading, Transportation, and Receiving.
- Explore shoplifting styles: convert-to-cash, opportunist, self-use, and amateur.
- Recognize point-of-sale risks: credit card fraud, bad cheques, counterfeit currency, switches, refund fraud, and quick-change schemes.
- Describe miscellaneous risks: burglary, robbery, coupon frauds, bomb threats, data loss and theft, disasters, and civil liability and litigation.
- Design security surveys to understand your vulnerabilities.
- Examine the principles of Crime Prevention Through Environmental Design (CPTED).
- Identify assets to protect.
- Leverage historical data and flow charting to pinpoint risks.
- Use data analysis to identify possible and expected financial losses.
- Assign financial impact rates to assets.
- Calculate the probabilities of incident occurrences and investigate causal factors.
- Prioritise risks using loss incident probability rates.
- Determine the focus of your loss prevention programme.
- List stakeholders in developing and implementing a prevention programme: employees, external personnel, loss control consultants.
- Identify countermeasures for risk control.
- Explore asset protection equipment and systems including access control, alarms, and lighting.
- Examine loss control policies and procedures.
- Review designs for protection programmes.
- Develop a loss protection plan.
- Create manuals for loss prevention policies and procedures.
- Prepare a persuasive and confident business case for the prevention programme.
- Outline employee training plans.
- Use inspections and data collection to effectively analyse programme effectiveness.
- Develop audit reports.
- Track and manage inventory.
- Discuss future industry trends.
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