The Costs Of Loss Prevention Essay - 950 Words

3. The Different Costs of Loss Prevention Detailed below are the costs of LP and, from them, we can see that when weighed against the marginal benefit, it is a relatively low cost because LP budgets in 2014 averaged to be less than 1% of total 2014 sales and LP prevented more than that in shrink (Hollinger et al., 2015: 6). All of the percentages listed below are from the most recent National Retail Security Survey and they represent the different percentages of the loss prevention budget (Hollinger et al., 2015: 8). This survey estimates that from the retail companies surveyed the mean percentage of the LP budget spent on payroll expenses for the field and corporate members of the LP department is 0.22%, while their other non-capital expenses excluding payroll, were, on average, 0.13% of the LP budget (Hollinger et al., 2015: 8). Last year, the retail companies in this study spent on average 0.14% on capital expenses, such as EAS pedestals and CCTVs. Overall, retailers surveyed in 2014 reported an average shrink of 1.38%, h owever, three out of ten (30.3%) reported a higher average shrink for 2014 (Hollinger et al., 2015: 7). The National Retail Security Survey reports that the average shrinkage rates in 2014 decreased or remained flat for more than six out of ten retailers (Hollinger et al., 2015). This demonstrates progress in implementing anti-theft measures, training, and internal processes because retailers continued to combat this problem with more advancedShow MoreRelatedcost management TI case1724 Words   |  7 Pagesconsidered by many to be the best way to enhance customer satisfaction. Cost saving and improve productivity : Improving quality is the best way to reduce manufacturing costs and to increase productivity. → Bird-eye view : TI want to do their job right the first time. Their organizations treat strategic planning and quality improvement planning as an integrated activity. 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These systems provide statistics to see how new laws and programs are working. The UCR is a computer-based program used by law enforcement to report crimes into a database within the United States for statistical purposes. This system is broken down into parts, part I being violentRead MoreMental Health : Mental Illness1604 Words   |  7 Pagesincluding genetic factors such as chemical imbalances and complications during pregnancy. Furthermore, having an unstable environment can also contribute, such as lack of support, isolation/alienation, negative family situation, being bullied/abused or loss of family/friend. Changes of environment such as change of house or country are also risk factors. Finally, general life stresses such as break-ups, financial issues, unemployment, and failure to meet expectations or pre viously having a mental illness