More convenience store operators are phasing out their drop safes and replacing them with sophisticated cash management systems that perform a variety of functions more easily and quickly than ever before. One of those is the linking of computer networks for easier access to information throughout the organization. In doing so, cash shrinkage due to…

RETAIL THEFT 2009 Employee theft accounted for 35.2% of shrink dollars. 41.2% of retailers worldwide experienced a significant increase in shoplifting in 2009, attributable to the economic downturn. Shoplifting and employee theft in the U.S. cost retailers $42.2 billion from June 2008 to June 2009. Every American family was forced to pay an additional $435…

A new study, sponsored in part by ADT and its Sensormatic Retail Solutions group, revealed the need for retailers to focus on technology solutions that enhance their current operational goals and combat theft without adding labor costs. They study, “Loss Prevention 2010: Retailers Battling Shrink in Touch Times,” found that during these challenging economic times,…

Until recently, spending hours scanning through poor-quality videotapes was the only way Flash Foods could investigate “questionable” transactions in its stores. The company wanted to maintain a “presence” at the point-of-sale to deter internal theft, but it needed something that met the needs of its time-pressed managers. “The system we had in place was archaic,…