Retail Dogma, Inc. is a publisher and education solutions provider incorporated in Delaware, USA. Retail Dogma owns The Professional Retail Academy (PRA)™, a training program specifically designed for mid to senior-level retail professionals.

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Inventory is one of the biggest assets for retail businesses. Such asset has to move around and exchange hands multiple times, which subject it to multiple risks of shrinkage, due to errors or theft.

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The role of the loss prevention function is to ensure the application of the company’s SOPs, when it comes to handling inventory and cash, in order to minimize those risks and protect those assets.

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Loss prevention is important because it helps the business improve its bottom line, by closely monitoring and preventing practices that lead to material losses in cash and inventory.

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Safe and highly effective cleaner/ degreaser. Suitable for use both in the home and in an industrial setting.  This water-based, non-foaming product can be applied manually or as part of an industrial process, for example, a parts washer or immersion tank.

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For example, a loss prevention employee can go to the store and perform a locker spot check, and see if all the valuable items kept in the staff lockers are documented in the sheet employees need to fill when they start their shift; especially if those items are from the merchandise that is sold in the store.

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This product is suitable for degreasing  a multitude of substrates from engine parts to oils stains on clothing and upholstery.

Loss Prevention is a function in retail businesses that is responsible for protecting the assets of the business and preventing or minimizing loss, by closely monitoring daily operations and ensuring the implementation of the company’s SOPs, especially the ones related to cash and inventory handling.

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In the case of any theft incidences, this team is the one who leads the investigation with the involved parties, by gathering all the information, going through CCTV footage, and getting statements from store staff.

Another spot check they perform is a cashier or till spot check, where they count the money in the till and compare it with the amount on the system to check for cash shortages or overages.

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Loss prevention employees try to prevent the different causes that lead to loss, by performing certain tasks on a regular basis.

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Loss prevention staff also regularly monitor CCTV to see if anything is unusual, and that the right procedures are being followed.

For example, they ensure that the stores are operating as per the SOP, and they do this by performing regular spot checks to verify that certain procedures are being implemented and that all the paperwork has been done.

We’ve put together a curriculum specifically designed for retail owners or retail professionals who want to advance into senior management roles.

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