Loss Prevention
As with other compliance and governance functions, any loss prevention strategy should be based on the organization’s risks – whether striving to reduce inventory shrink at existing stores or minimizing loss at closing stores – loss prevention resources should be utilized to address the most significant issues preventing the organization from achieving its shrink, anti-fraud, and other operational objectives.
The Lyndon Group Loss Prevention Practice helps organizations achieve its objectives with a risk-based approach, focused on the unique needs of your organization.
Services:
- Strategic Planning
- Program Assessment
- Field Auditing
Strategic Planning
If your organization is considering implementing a loss prevention function due to growth, inventory loss, internal fraud, or other operating concerns, the Lyndon Group Loss Prevention team can assess your organizational needs and help you formulate a strategic plan to implement an effective loss prevention function, focused on the risks facing the organization and aimed at increasing profitability.
Our strategic plans can be comprised of many areas, including:
- Organizational Structure
- Policies and Procedures
- Field Audit Plans
- Store Personnel Training
- LP Staff Training and Professional Development
- Investigations
- Interviews
- Case Management
- Restitution
- New Store LP Equipment Design
- High Shrink / Target Store Programs
- Shrink Awareness Program
- Physical Security (Alarms, CCTV, EAS, Locks and Keys, Armored Carrier)
- Law Enforcement Partnerships
Program Assessment
Lyndon Group can perform an independent assessment of your current loss prevention function and determine if resources are being utilized in an effective and efficient manner, with a positive return on your investment. We can review all aspects of the loss prevention program, including:
- Organizational structure
- Plans and budgets
- Key performance indicators
- Policies and procedures
- Proprietary staffing and use of external resources
- Communication and awareness programs
- Shrink Reduction Programs:
- New Stores
- Closing Stores
- Remodels
- Relocations
- Vendor relationships
- Technology, including hardware, software and other loss prevention measures such as EAS, CCTV and alarm systems
Additionally, we review controls for the prevention, detection, investigation and reporting of internal fraud. We can ensure controls are adequate and monitoring is in place to reduce:
- Cash Theft
- Merchandise Theft
- Credit Card Fraud
- Check Fraud
- Gift Card Fraud
- Discount Fraud
- Refund Fraud
- Under Ringing and Passing
- Void Fraud
- Counterfeit
Field Auditing
Lyndon Group can provide experienced highly-qualified loss prevention and audit professionals to conduct audits at your locations in an efficient and professional manner. These audits are tailored to meet your specific needs and your organization’s culture: we can conduct surprise visits or announced audits; perform audits in a training mode to ensure store personnel understand the reason for certain procedures and how they can improve the overall performance of the store; compliance audits to simply determine the degree to which company policies are followed. These audits can cover all operational areas, only loss prevention areas (e.g., EAS compliance) or other operational concerns (e.g., pricing, customer service, staff coverage, etc.)
Contact us today to learn how Lyndon Group can add value to your organization. |
