Smaller to mid sized retailers may not have full time staff and benefit from contracting a loss prevention investigator – loss prevention agent to keep on top of issues and keep overhead low.
A primary function of the loss prevention investigator – loss prevention agent is to fist assess the current state of the business. Observing daily procedures for receiving and inventory practices, cash drawer open and closing as well as daily operation and shortage policies are a few areas of focus. Other areas looked at are clock in and clock out practices, inventory and cycle counting procedures and practices, alarm system / CCTV (camera) system operation & usage and safety issues.
The goal of the loss prevention agent is to save profit from being lost through weak operational practices as well as identify and process the big ones like shoplifting issues and employee theft problems. These more routine areas where money can fly out the door are often not even on the mind of the retailer when considering the hire of a loss prevention investigator to help solve issues and improve profitability.
Another benefit of an outside contractor is there is no “inside” or internal employee dynamics which can lead to emotional attachments and biases / favoritism etc… You get a truly objective individual with your best interest at heart and no one else’s.
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