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Loss Prevention and Risk Management

In: Business and Management

Submitted By pmeredith310
Words 959
Pages 4
Loss Prevention and Risk Management
Phillip Meredith
Pmeredith310@email.phoenix.edu
University of Phoenix
SEC/310 Bobby Sydnor

Introduction
In retail, carefully applied security measures clearly benefit the bottom line, however retail security and loss prevention covers a lot of ground. The list of security threats includes direct theft from random shoplifters to organized retail crime and dishonest clerks, as well as accidental loss and product diversion. Digital issues are no minor concern either, given high-profile attacks like card skimming and data theft through wireless networks.
Point of sale
Cash, cards, inventory and customer data intersect at the point of sale. Card skimming, under-ringing, and sleight-of-hand are a few points of sale security issues that I would identify and eliminate first. Point of sale issues are not just committed by a bad employee. We need to take in consideration the self-checkouts as well. Sleight of hand on certain small items cannot always be stopped. We should ensure all the self checkout counters have all of the proper security such as video scanning, (explained… video camera that views the items as they are slid across the self checkout counter.) Placing the monitor for the self checkout counters on the associates help stand located near the self check out section. This will allow security to act fast on merchandise that is not scanned. We should also ensure that the baggage weight scales as well as any other security tools located in this area are also working properly.
Employee ran checkout counters should also be equipped with video scanning as well as a camera set on each cash drawer in order to monitor its usage. RDIF tags should be used to monitor the movement of high value goods. These tags can only be de activated by dragging it across a magnetic pad located on the registers.
Demonstrating consistent attention to security and to investigation of theft helps discourage insider crimes. Conduct occasional field tests involving complicated purchases, and closely document sales prices and cashier behavior. Security tests should also note and improve customer service procedures.
With these requirements to our security protocol we should add money escort’s to our list of security tasks. (explained… during a shift change, cash drawer change, or bank drop a qualified security personnel will escort the money rather it be the cash drawer or the safe bags, from point A to point B if these locations are out of sight of video surveillance.

Network security
The role of wireless networks continues to grow in retail operations. These networks can be a weak spot where criminals can intercept important data. We should ensure that we have the proper network security and firewalls that prevent criminals from intercepting information from customers as well as important data such as bank drop schedule, security patrol routes, and any other information that can be used against the organization.
Shop lifting
It can be complicated to prevent against every shoplifter. With the access of cameras we can keep an eye on most points in the store; however we are going to have blind spots.
One of my top suggestions for this problem is having all small electronics and other high value items that are most likely to be stolen either behind a locking class or on locking racks. This may take more time and effort for the associates, although this will cut down on items being pocketed. Another program that we should look into would be secret shoppers. (Explain… Security personnel dressed in civilian attire browsing the surveillance cameras blind spots to ensure there is no one slipping items off the shelves and into their pockets.)

Loading dock
Unloading trucks with newly received merchandise is a great opportunity for a criminal to strike. In some cases the worry would be on the employee unloading trucks full of merchandise, for these instances we should have a surveillance camera on the inside and outside of the loading dock.
A problem with the receiving process is the back access to the organizations building is open and unsecure, this leaves opportunity for an outside criminal gain access to the supply area. The take from these incidents could be as small as snatching a box of electronics to as large as driving off with a truck full of merchandise. Therefore I purpose that we post security personnel at every entrance and exit while there accessible. If the door is unlocked it needs to be protected.

Robbery
An armed robbery is a cashier’s greatest fear while standing behind that counter. In any situation where there is an armed suspect the steaks are greatly raised. Standard procedures Sais during an armed robbery you should comply with all the demands that you can possible control. And secondly you should stay as low to the ground as possible until the suspect leaves or the area has been cleared by the law enforcement.
We should put a training program in place to ensure each employee knows what to do during a robbery. We should also install silent alarms that can be pressed without too much notification to the suspect.

Conclusion As we go over all of the security measures listed above as well as any other problems we may run into along the way, we start to understand what measures create a safe work environment and still have the freedom to allow self service. Security within the retail organization will help to minimize loss in merchandise as well as minimize loss in money and in property theft or damage. The opportunity for crime is continuing to rise more and more. We may not have the ability to completely stop the loss, however we can improve more and more with each weakness we find in the security protocols.

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