No specialty retailer is immune from shrinkage. Inventory shrinkage, a combination of employee theft, shoplifting, vendor fraud and administrative error, cost U.S. retailers over $31 billion last year, according to the latest National Retail Security Survey report on retail theft, that analyzed theft incidents from 118 of the largest U.S. retail chains. Specialty retailers are looking for ways to deal with shrinkage by finding a cost-effective security solution to better control their potential for losses.
The Tyco Integrated Security® Select View auditing program is an ideal protection package to assist specialty retailers in tackling the shrinkage issue. A total integrated video services solution, Tyco Integrated Security's Select View system and the accompanying auditing software, provided by Arrowsight, allows Tyco Integrated Security to measure store compliance by performing audits and providing a score to store management based on multiple factors. The hard data, supplied daily, illustrates the performance of a store and enables the retailer to take proactive actions before a compliance issue becomes disruptive or problematic. To corroborate Tyco Integrated Security findings, management can view the secure video at any time, from any computer with Internet access. Tyco Integrated Security's industry-leading digital recording technology enables automatic storage and the ability to search archived images quickly and easily.
Tyco Integrated Security Select View enables retailers to proactively utilize the system to perform process verification audits such as POS exceptions, monitor receiving door activity and employee access, backroom inventory procedures, and tracking inventory counts on high-value merchandise.
By implementing Tyco Integrated Security Select View, a specialty retailer can cut costs and increase revenue, resulting in a solid return on investment. This customized security solution significantly reduces shrinkage by allowing a retailer's management team - at the corporate, regional and store level - to anticipate loss vulnerabilities before they become unmanageable.