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…...

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