New tool for retailers to test their loss prevention programme

Posted by ap507 at Mar 25, 2014 11:02 AM |
Online benchmarking tool developed by University of Leicester enables retailers to understand how their shrinkage strategy is performing

The ECR Shrinkage Group, with the support of merchandise availability solutions supplier for the retail industry, Checkpoint Systems, is launching an online Benchmarking Tool, which for the first time enables retailers to understand how well they are managing shrinkage versus others and the relative strengths and opportunities of their loss prevention programme.

Professor Adrian Beck (pictured), Head of the Department of Criminology, who developed the Benchmarking Tool for the ECR Europe Shrinkage Group said: "The Tool was developed after extensive research with some of the leading retailers in the world and is designed to help organisations better understand how their businesses not only view the problem of shrinkage, but also help them to identify the key areas on which to focus to improve their overall performance’.

Based on extensive global research the tool provides global benchmarks on the strategic, organisational and operational standards that underpin an effective shrink management strategy.

To access the benchmarking tool, retailers simply complete an online questionnaire. Once the responses have been entered, the tool generates a colour-coded model which highlights the areas of the shrinkage framework where they have strengths and then in turn, the areas that need to be prioritised.

The benchmarking tool is free-of-charge and available to all retailers from any sector of the industry. It can be accessed here.

The next ECR Shrinkage Group meeting will take place at the Bacardi offices in Hamburg, Germany, on 19-20 March 2014. To register to attend, visit here.