Establishing a Maturity Model for Total Retail Loss October 19, 2021 By Adrian Beck Introduction It is now 5 years since the first Total Retail Loss (TRL) report was published, although that was essentially a bookend to a longer journey of reflection and review on how retail businesses were experiencing and responding to the issue…
Getting to Grips with the Hot Concept in Retailing: Focusing on the vital few rather than the trivial many September 15, 2021 By Adrian Beck Introduction The Pareto principle is a well-known and often quoted concept – the 80/20 rule – 80% of consequences come from 20% of causes. Equally, it is widely acknowledged and…
To Count or Not to Count: Understanding the Impact of Inventory Counting on Retail Sales and Loss June 14, 2021 By Adrian Beck I recently took part in a Datascan Roundtable with Adrian Thomas, President and CEO of Datascan, and David Erasmus, their Director for EMEA, to discuss developing issues around the issue of inventory…
Generating Inventory Data Through Video Analytics: Development or Distraction? May 11, 2021 By Adrian Beck As part of the ECR Retail Loss Group’s regular sessions exploring the use of video technologies in retailing, the subject of utilising them to facilitate the collection of inventory data was recently the focus of attention. Presentations were made by…
Why out-of-stocks should be part of a Total Retail Loss perspective March 22, 2021 By Adrian Beck The most recent iteration of the Total Retail Loss typology, published in 2018, maps out 42 categories of loss spread across four ‘centres’: the Retail Store, the Retail Supply Chain, E-commerce and Corporate. While there are undoubtedly more…
Emerging from the Loss Prevention Data Desert: The Value of Data Analytics March 4, 2021 By Adrian Beck As William Deming rather pithily put it: ‘without data, you’re just another person with an opinion’. Certainly, within the realm of retail loss prevention, there has been a history of having relatively little data to understand the…
The Importance of Inventory Accuracy for Retailers February 12, 2021 By Adrian Thomas Retailers have long met challenges with inventory accuracy. While technology has provided approaches to improve reliability, the importance of inventory accuracy and its alignment to reduced costs and higher profits is greater now than ever before. In this post, we’ll be unpacking the role…
The Evolving Retail Risk Landscape: Getting to Grips With Online Returns February 5, 2021 By Professor Adrian Beck As I mentioned in my last blog entry, one of the (many) consequences of the COVID-19 Pandemic has been the acceleration in the growth in E-commerce retailing – the purchase of goods online that are either delivered…
Retail Roundtable DiscussionThe Future of Retail, presented by MarketScale February 1, 2021 What Does the Future of Retail Hold? Retail had a turbulent 2020. It was a year that saw trends already making their presence felt, such as buy online, pick up in store (BOPIS), eCommerce, contactless payment, and more, gain greater influence as retailers…
The Rise of E-commerce: Managing an Evolving Retail Risk Landscape January 13, 2021 By Professor Adrian Beck As the retail sector continues to grapple with the consequences of the COVID-19 Pandemic, one of the striking trends thus far has been the considerable growth in the percentage of retail sales now taking place via E-commerce. While…
