291: Cutting Edge Solutions To Counter Shrink

22 Apr 2024 | Oliver Only Solo Shows, Podcast

Publish Date

22 April 2024

Your Host

Oliver Banks

Dive into the dynamic world of shrink solutions to combat one of the industry’s major challenges, the rapidly increasing levels of unknown loss and theft. As retail evolves, so does the challenge of managing shrink and minimising theft; from advanced detection technologies to innovative on-floor strategies, each solution offers a unique angle on preventing loss. This episode is your guide to transforming shrink management into an opportunity for growth and innovation. Whether you’re combating opportunistic shoplifting or organised crime, learn how tailored and localised approaches can revolutionise your retail environment.

Listen to this podcast episode to hear:

  • Uncover the power of localised approaches to shrink that cater specifically to the unique challenges experienced.
  • Discover cutting-edge technologies to prevent and detect shrink, from AI body language analysis to RFID tracking.
  • How to support frontline colleagues to combat shoplifting and retail crime.
  • The balance between protecting stock and maintaining a positive shopping experience.

 

Clarify your operating model with OB&Co

Oliver helps organizations and individuals to drive effective transformation. This includes defining operating models across the business as a way of standardising the approaches to getting the right work done effectively and efficiently. He also works with individuals to help advise and act as a thinking partner to rapidly drive personal growth.

Speak to Oliver about the Accelerator service for hands-on support to get things done. Or ask about the Navigator service to develop capabilities.

🔗 Connect with Oliver Banks on LinkedIn and send a message.

Additional episodes of the podcast to listen to next

In this episode, Oliver mentions the previous episode. If you’ve not listened to episode 290: Segmenting Shrink To Uncover The Real Challenge, then listen now to learn more about the various root causes of shrink. It also segments aspects life theft to help understand the broad set of reasons that can lead to unknown stock loss.

290: Segmenting Shrink To Uncover The Real Challenge - The Retail Transformation Show with Oliver Banks

Many of the solutions discussed were technology-enabled. Evolutions in broad technical areas, such as AI or vision systems, are also disrupting security solutions. Listen to episode 285: How Technology Is Changing The Role Of People to explore more about the implications of these developing technologies.

285: How Technology Is Changing The Role Of People - The Retail Transformation Show with Oliver Banks

Shrink can be a major drain on profitability. Discover the actions and avenues as you look to boost the bottom line in episode 261: Uncovering The Path To Retail Profitability.

Recent episodes

299: Why Simplifying Is Hard (And How To Approach It)

299: Why Simplifying Is Hard (And How To Approach It)

Operational simplification is a goal for many businesses. But simplification projects are not necessarily simple by themselves. There can be big implications and it's easy for the customer of the change to reject the new initiative altogether. Join Oliver Banks and...

298: Flagship Stores: Strategic Play Or Vanity Project

298: Flagship Stores: Strategic Play Or Vanity Project

Flagship stores are incredible shops - the epitome of excellence and offering customers a fantastic shopping experience. But they can be excessively lavish and hugely costly with no expense spared in a bid to worship the brand. In this episode, join Oliver Banks and...

297: The Great Workplace Debate – WFH vs RTO

297: The Great Workplace Debate – WFH vs RTO

In 2020, the world shifted to WFH in response to the coronavirus pandemic. We learnt how to get things done remotely through necessity. But since then, there has been an ongoing tension between work from home (WFH) and the return to office (RTO). Different companies...

296: Reimagining The Role Of The Physical Store

296: Reimagining The Role Of The Physical Store

Dive into the future of retail with this thought-provoking episode, where you'll explore the evolving role of stores far beyond traditional sales spaces. From showrooms and delivery hubs to sustainability centers and community hubs, stores are being reimagined as...

295: Shift Customer Experiences Into Memories

295: Shift Customer Experiences Into Memories

If we focus only on creating a great customer experience in the moment, we're missing the opportunity for positive impact. This episode explores how to craft unforgettable customer interactions that forge long-term loyalty. Join Oliver Banks and discover why we must...

Categories

Subscribe to the Retail Transformation Briefing

Keep your finger on the pulse of the ever-evolving world of retail. 

🌍 Key headlines from around the globe

🔎 Insight and intel on the retail industry

💡 Expert viewpoint from Oliver Banks

Great - Now check your email to confirm your request

Pin It on Pinterest

Share This