291: Cutting Edge Solutions To Counter Shrink

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.

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.

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.