Blog

Understanding Tax Credits and Deductions

Every year, workers and business owners embark on tax-filing journeys that are often confusing but highly beneficial. As many are aware, tax refunds and tax breaks in the form of deductions can drastically reduce liability. While scanning your favorite tax preparation website, it’s important to know that tax credits and deductions are stark contrasts but work in tandem with each other.

​Overcoming Liability to Donate More Unsold Food

The never-ending goal of ending world hunger starts with caring about the exorbitant food waste that is prevalent across the globe. One way that corporations and manufacturers could assist the many US food banks currently suffering from shortages of food donations would be to loosen restrictions on donating unsold food items.

Common Return and Refund Fraud and What to Look for

Return and refund scams are very commonplace. It’s estimated that nearly 10% of all refunds and returns somehow abuse store return and refund policies. Learn about some common scams and 2 simple steps you can implement to help prevent your store from being defrauded.

How Stores Can Use Culture as a Loss Prevention Tool

Loss prevention is a huge part of retail. Regardless of size and the amount of shrink, controlling loss of products impacts retail as a whole.

Innovation in CCTV and its impact on Loss Prevention

 

CCTV has long been one of the most important, central methods to deter shoplifters and help identify repeat offenders. Great CCTV systems mean you can monitor problem areas constantly, and even if you can’t react to a thief in real time, you could still get a good idea of their identity, behavior, and the products that they targeted.

What Goes Into Building a Key Control System

Key control is a necessary burden for every store. You have to lock up your valuables and make sure that you keep a close eye on the movements of the keys to prevent loss and duplication. Here are 5 best practices that can help you improve your key control system.

Overview of Known and Unknown Loss

Minimizing shrink is crucial for any retail business. Losses come in two main categories; known and unknown. As a loss prevention team, your goal must be to move as many losses into the known group as possible. That way, they can be more closely watched and managed.

Your #1 Theft Deterrent = Customer Service

When it comes to deterring shoplifters, more retail professionals realize that the best defense can be a good offense. That is, it’s not enough to catch shoplifters once they have taken an item. All efforts should be made to ensure that they never even get a chance to steal.

Throwing Away Hard Earned Inventory

Working in the supermarket industry requires various checks and balances. It is tricky to operate a business where the shelf life of the inventory ranges from years to days. Unfortunately, time sensitive items get thrown away for a number of reasons. Additionally, goods that incur damages are thrown out and create loss. Both of these…

​Why Low Shrink Supermarkets Track Theft

Shoplifting happens in every retail store leaving remnants that pepper aisles floors and product shelves. Empty packages are found around the store after shoplifters came in and removed the contents, leaving the evidence behind.

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