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Article: Shrinking Shrinkage. (News & Notes).
- Article from:
- Security
- Article date:
- June 1, 2003
CopyrightCOPYRIGHT 2003 BNP Media. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Retail loss prevention executives fight an annual battle to detect and prevent inventory shrinkage -- the financial loss attributable to a combination of employee theft, shoplifting, administrative error and vendor fraud.
Conducted by Richard C. Hollinger, director of the security research project at the University of Florida, the 2002 National Retail Security Survey may shed some light on the constant shrinkage battle. Relying on data collected from calendar year 2001, the 118 responding firms, representing 22 different markets, reported an average shrinkage rate of 1.70 percent of annual sales. This figure is significantly lower than the 2001 NRRS shrinkage ...