Loss Prevention Flashcards
Shrink
is the difference between the amount of inventory our systems tell us we have and the amount
we can physically touch.
The following processes can impact shrink
- Improperly processing register transactions
- Transfer, RTV, damages, drop ship, or claim errors
- Inaccurately completing inventory adjustment requests
- Errors when reporting store use items
involves theft of goods or services by people not employed by the Company
External
External
theft or retail theft (also called “shoplifting”) includes all the following:
Merchandise theft, Return fraud, Ticket switching, box concealment, Grab and go
is designed to help you manage the activities associated with creating and managing
incidents such as Shoplifting Preventions/Recoveries, Shoplifting Incidents and Grab and Go’s.
LPMS
You can use this form to alert other stores in your district to potential shoplifters in
the community. These forms are most commonly used in our larger metro areas where shoplifters are
organized and targeting our stores.
BOLO
Robbery occurs when
a store is occupied
Burglary occurs when
when it is not occupied
Any teammate who knowingly causes the Company to suffer a loss or assists others to do the same.
Internal Theft
Internal theft includes
- Theft of cash.
- Theft of merchandise or giving merchandise to others without payment.
- Credit card fraud.
- Falsification of company documents.
- Scorecard and Teammate Discount Fraud – often a gateway to other types of losses
Some examples of alert signals, which do not confirm but may indicate internal theft:
Physical alert signals, financial alert signals, workplace alerts, cash theft alerts, merchandise theft alerts
are intended to identify compliance and
accuracy as it relates to physical security, merchandise security, inventory movement processes, LP
Awareness, Omni Channel, athlete engagement/focus and Shrink Business Plan execution
LP Audits
