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Globally, the retail industry loses in excess of $230 billion a year due to 'shrinkage' -- the euphemistic term used by the industry to cover financial losses that retailers face through spoilage, damage, error and theft. It is a problem that has proved stubborn to resolve and highly resilient to the swathe of 'solutions' developed to try and reduce its impact. This book is an attempt to develop fresh thinking on how to effectively manage retail loss by challenging the existing preconceived ideas about not only what constitutes shrinkage, but also the approach that should be adopted to deal with it. It is premised upon developing a systemic and systematic understanding of the root causes of shrinkage, recognising the pivotal role operational failures have in creating the opportunities and circumstances in which shrinkage can occur. This text offers one of the most comprehensive and challenging accounts of retail loss prevention to date. Designed for students and practitioners alike, it provides new insights into a problem that has plagued the retail industry since its inception.
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