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Loss Prevention

Date post:21-Jan-2016
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Loss Prevention. For the College Bookstore. Presenter : Chet A. Cohen. Corporate Loss Prevention Manager, Associated Students UCLA Fourteen (14) years at UCLA Previously worked for Gap Inc. and Target Corp. Member of ASIS (American Society of Industrial Security) - PowerPoint PPT Presentation
  • Loss PreventionFor the College Bookstore

  • Presenter: Chet A. CohenCorporate Loss Prevention Manager, Associated Students UCLAFourteen (14) years at UCLAPreviously worked for Gap Inc. and Target Corp.Member of ASIS (American Society of Industrial Security)Member of LAAORCA (Los Angeles Area Organized Retail Crime Association)Member of NACP (National Association of Chiefs of Police)

  • Major IssuesAn OverviewShrinkTextbook TheftTextbook Refund FraudPhysical Security/EASUniformed Security vs. Plainclothes StaffORCCivil DemandSafety

  • ShrinkDefined as inventory losses, either by theft (internal and external), administrative errors and accounting errors$37 billion in 201150% internal (employees)40% external (customers and vendors)10% otherDirect threat to store revenue and profitabilityCombated by strong deterrent policies, organizational standards and leadershipZero tolerance

  • Textbook Theft

    The #1 theft threat to college bookstoresTextbooks are equal to cash fastest turnaround of any commodity sold (or) stolen at a college bookstorePreventing these types of theft is paramountThere are a number of ways this can be accomplished: EAS (electronic article surveillance) systems, bag checks, clerk services and aggressive customer service are all ways to combat and deter textbook theft

  • Textbook Refund Fraud

    Stolen textbooks are easily sold back for cashRetailers that do not ID book buyback sellers are making it easy for the criminals to get away with itRequiring a valid (government issued ID) DL or Student ID will deter instances of fraudulent returnsLimiting quantities of the same title and capping the return eligible dollars are additional ways to combat refund fraudAdvisories, working with your association partners

  • Physical Security/EAS

    Visible CCTV (closed circuit television) camerasCable-locking high-end productsReverse positioning of hangars on displays adjacent to exitsStaffing appropriately through out the store and offering customer service to all guestsLoss-control signage in fitting roomsEAS (Electronic Article Surveillance) systemsEAS antennas can be floating at the exit doors or attached to the door framesAll merchandise products can be tagged (soft or hard tags)

  • Uniformed vs. Plainclothes Staff

    Uniformed security officers patrolling the storeBeing visible and able to offer customer serviceCan respond to EAS alarm activationsDeters the folks on the fence about shopliftingPlainclothes staff are able to quietly investigate theft and make apprehensionsWith the uniformed staff on general patrol in the store, plainclothes personnel can focus investigations on high-end products and/or internal issues

  • ORC

    ORC (Organized Retail Crime)Not your grandfathers mobWell-organized, well-funded groups paid to steal significant amounts of merchandise in a short timeMove from store to store in groups of bandits and look-outsSold on the black market, swap meets and even back to primary sellersEstimated $20 billion in ORC crime in 2011, will be even higher in 2012Not flash-mobs

  • Civil DemandLegal term used by state legislatures that allow retailers to assess a civil fine unto a person caught shopliftingIn California, Penal Code 490.5 allows retailers and libraries to charge up to $500 per incident for acts of theftA conviction in court is not requiredIts up to the retailer to set the fine amountThe amount does not have to be based on the value of the item stolenThe fine is guided by the principle that allows the retailer to recover some monies from losses and/or the cost of employing a loss prevention department and maintaining lp systems

  • Civil Demand CONTDNevada state law Code 597.860 allows for retailers to assess a civil fine from $100 up to $250 per incident plus the value of the non-sellable goods.Oregon state law Statute 30.875 allows for civil remedy again between $100-$250 plus the cost of the non-sellable goods, not to exceed $500.Washington state law allows retailers to assess a civil fine up to $200 after attempting (twice) to have the thief pay for the stolen items.

  • SafetyThis is a major component of any loss prevention or asset protection functionMaintaining a safe work environment for employees and customers will cut down on accidents and claims This will reduce your workers compensation ratesLost-time accidents can run into the hundreds of thousands of dollars for an organizationAll businesses must have an IIPP (injury and illness prevention program)Training, inspections and documentation

  • Wrap-Up

    What questions do you have???Im free after to answer any questions privatelyThank You!

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