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View from the Top -
Part 2 | Part
1
Read Part 1
Q: HOW DOES THE LOSS PREVENTION SYSTEM WORK?
A: What we are looking for are breakdowns in compliance
or indications of fraudulent activity. To achieve this we
also had to upgrade the EPOS software in the stores to capture
additional transaction information.
This transaction data can then be analysed to determine if
there are any unusual patterns of behaviour occurring – for
example, if certain products are being discounted when they
shouldn’t be.
Another example is if a staff discount card is being used
several times in a day; there may be a good reason for it
but it is something that would be highlighted. It’s this type
of activity we are looking for and it provides our loss prevention
people with the necessary information to go into a store for
further investigation.
The system has been running for about a year and our operational
people are absolutely delighted with it. Before we had this
capability it was all bits of paper, investigations onsite,
churning through the store back office, all of which was very
labour and time-intensive. The new system provides much richer
information and allows us to be far more proactive.
The major benefit is that in the first year of the systems
operation we have accounted for £2 million of savings; obviously
this is measured in terms of avoided loss. Our payback, in
terms of the full project cost, has been less than a year
and we expect to make significantly more savings this year.
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Conspectus 2010
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Copyright © 2010
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