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Advice for store owners struggling to manage loss prevention

Discover effective loss prevention strategies. Glenn Brown, an experienced professional, delves into the importance of assessing root causes and exploring all possible reasons behind loss incidents. Learn how understanding employee behavior and implementing robust inventory management can help redirect and mitigate losses. Discover the power of leveraging partnerships, such as DTIQ, and utilizing cutting-edge tools…

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Discover effective loss prevention strategies. Glenn Brown, an experienced professional, delves into the importance of assessing root causes and exploring all possible reasons behind loss incidents. Learn how understanding employee behavior and implementing robust inventory management can help redirect and mitigate losses. Discover the power of leveraging partnerships, such as DTIQ, and utilizing cutting-edge tools like the 36IQ system for video-backed evidence. Uncover the role of SmartAudits in enhancing guest experiences and preventing loss. Find out how implementing safety and security measures can significantly impact overall loss prevention efforts. Don’t miss this valuable resource for optimizing loss prevention and safeguarding your business.

Video TranscriptExpand ↓

I would first assess what that loss is or what that potential loss is gonna be. When struggling with a loss prevention issue, understanding the true root cause of the problem, And the reasons why behind that problem could be happening, ideating and not leaving out any reason, exploring each option. Is gonna help you redirect that problem to that desired point of result. Knowing what's going on in your employees' lot, Right? Understanding why they could be potentially making the choices they make. We have a food cost issue. And we have an inventory issue. There is significant shortages in a solid amount of food, well, is that because we No. You know, Glenn is going through something in his life. And Glenn is maybe flubbing those inventory accounts. So let's dive down into food cost. And let's say, you know, you are unfortunately experiencing a significant amount of of theft. Well, I would say the way to put parameters on that would be to understand the tools and resources available to you. From a company standpoint, as well as from a partnership standpoint. So as long as you have your inventory accounts in place, and you're taking those inventory accounts on a regular basis. You're then able to analyze those trends and identify where that loss is happening or more importantly when that loss is happening. Knowing the when, you can cross the reference out with a schedule and you can find out who. Here's where your partnership comes in. Once you find out who and your partners with, let's say, DTIQ. And you have a legendary system like three sixty IQ. You can then use video to back yourself up. Use video to back your findings up. So when you go to your leadership, when you go to your HR or when you as a store manager or store owner are just preparing for any sort of pushback You have that video and it's undisputed. Another example I have for a store owner, you're managing to, you know, Struggling to manage their loss prevention is around guest experience. I would first ask if you have any policies and procedures set in place for your employees that center around guest experience. Right? Is there a, you know, a uniform greeting across the board? Or is it just to offer a greeting? And have you really explained to your team what that greeting is? If you have excellent. If they are not following it, not so excellent. How do you prove they are not following it other than lost sales? Lost repeat customers, clearly a decrease in guest experience is happening. Again, that's where your partners in DTIQ come into play. Or you can use your cameras that are enabled with microphones to listen in. And you can use a great tool like a smart audit to identify anytime there is a customer interaction, and those smart audits are gonna look for and listen for that friendly greeting. It's gonna encourage that return by the guest. Okay. So I'm gonna set the scene for you. Your store owner You just purchased this door. Unfortunately, there's a lot of safety and security issues. That is major loss that you need to quickly perfect. How are we gonna do this? Think about using the tools and resources you have available. Right? Understand what your corporate or company or just your personal operational policies are and what you want them to be? Translate those and communicate those to your team to your employees, to your managers, and then have a system in place that is going to monitor those, I e you know, in my case, my suggestion would be smart audits. Right? Are your back doors open before dawn after dusk? Maybe even set emotional alert the three sixty IQ system. Are we using wet floor signs when we're cleaning the floor? Are the floors clean? All of these are potential loss issues, you can prevent.

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