We published the following retail theft reduction advice to our 2,500 Point of Sale software customers earlier this week.
Retailers who follow this advice are better positioned to cut employee theft, customer theft and general shrinkage in their retail stores. While we wrote the advice for our customers, it can be applied to most good Point of Sale systems.
- Only sell what you arrive through our software.
- Track ALL sales – by scanning, touch screen button or PLU.
- Stop all department sales.
- Scan our ALL returns.
- Undertake regular spot stocktake throughout the business. The discrepancy between what you have and what the system has reflects theft.
- Reorder stock using the software. This stops poor buying decisions. It also identified stock theft and employee fraud around stock.
- Use employee initials, codes or barcodes for each sale. Yes this adds time to each sale. The benefits far outweigh the time cost.
- Set an end of shift balance target of $5.00. Many Tower customers achieve this – it takes discipline.
- Change your system password regularly.
- Do random, during the day, register balance checks.
- Use your software to check and report on behaviour which could indicate employee theft.
- Follow your suspicions regardless. Put your business ahead of friendships.
We have been on a mission in 2010 to get our retail partners to engage more actively in using the facilities within our software to cut theft.
Based on the feedback we have received and the police investigations in which we have been involved in providing evidence, our focus has been beneficial to many of our customers.
The cost to any retail business of customer and employee theft can be significantly reduced. The keys are retail owner and management engagement, full use of the software and relentless application of a zero tolerance approach.