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.

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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.

Note: To change the reference style that Excel uses, click the File tab, click Options, and then click Formulas. Under Working with formulas, select or clear the R1C1 reference style check box.

This article describes the formula syntax and usage of the ADDRESS function in Microsoft Excel. Find links to information about working with mailing addresses or creating mailing labels in the See Also section.

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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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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.

A1    Optional. A logical value that specifies the A1 or R1C1 reference style. In A1 style, columns are labeled alphabetically, and rows are labeled numerically. In R1C1 reference style, both columns and rows are labeled numerically. If the A1 argument is TRUE or omitted, the ADDRESS function returns an A1-style reference; if FALSE, the ADDRESS function returns an R1C1-style reference.

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sheet_text    Optional. A text value that specifies the name of the worksheet to be used as the external reference. For example, the formula =ADDRESS(1,1,,,"Sheet2") returns Sheet2!$A$1. If the sheet_text argument is omitted, no sheet name is used, and the address returned by the function refers to a cell on the current sheet.

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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.

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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Copy the example data in the following table, and paste it in cell A1 of a new Excel worksheet. For formulas to show results, select them, press F2, and then press Enter. If you need to, you can adjust the column widths to see all the data.

You can use the ADDRESS function to obtain the address of a cell in a worksheet, given specified row and column numbers. For example, ADDRESS(2,3) returns $C$2. As another example, ADDRESS(77,300) returns $KN$77. You can use other functions, such as the ROW and COLUMN functions, to provide the row and column number arguments for the ADDRESS function.

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.

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.

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.

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.

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.