The Six Principles of Loss Prevention

For better part of this decade, U.S. retailers as an industry have reported an average annual loss of approximately $35 billion due to theft and errors. Whether it be from external sources, such as shoplifting, or through internal employee theft, a retailer without an adequate loss prevention function will incur greater loss than a retailer who practices a well structured approach to attacking loss.

A well structured loss prevention function should include a program designed around six key principles. These six individual, but symbiotic, principles provide an approach that will focus on the prevention, identification and resolution of loss.

Six Principles of Loss Prevention