Whether through employee theft, paper shrink, or cash over/short, Loss Prevention must identify potential losses and mitigate risk for the company. Both in the field and at the home office, managers often find themselves seeking better ways to identify trends and prevent detrimental behaviors quickly and efficiently. Quick response is also required in cases where losses are detected on an ongoing basis. Processes addressed include:
- Inventory controls, including cycle counting, physical inventories, and maintenance of perpetual inventories
- Facility audits
- Cash management
- Credit and Check processing procedures
- Applicant screening processes