Loss Prevention Solutions

By: Rms Consulting  27/07/2010
Keywords: Security Industry, security consulting, Security Consulting Services


Theft, fraud and process errors create losses for all companies in every industry. Most companies manage these losses as a part of the cost of doing business and only address specific problems as they arise. Taking a proactive stance by identifying the root cause of losses and eliminating the opportunity for them to occur can be the quickest way for a company to improve its bottom line. In almost every case, our vulnerability assessments uncover existing cases of fraud and a multiple of our fees are typically recovered as a result of the ensuing investigations.

What We Do

Our comprehensive loss prevention programs often begin with a thorough overview of the client's existing operations and systems, seeking vulnerabilities and an understanding of the true cause of losses as well as process errors that may contribute to inventory shrinkage. A review of the entire supply chain identifies where companies are vulnerable to theft and fraud from their employees, customers and vendors. RMS Consulting recommendations are prioritized and structured so that our clients can perform ongoing monitoring and adjustment to ensure long term success.

Loss Prevention Audits:

Our loss prevention audit is conducted consists of ten major categories. The audit is based upon many years of practical experience in the retail sector and from problem solving with many of the leaders in the loss prevention field.

Areas that are reviewed include:

Section A - Cash Controls
This section reviews the controls that are in place to prevent the theft of cash as well as fraudulent point of sale transactions.

Section B - Merchandise
Section B covers the procedures, controls and equipment that are in place to prevent the theft of merchandise by customers, employees and vendors.

Section C - Price Tickets
This section deals with the type of price ticket used and how products are ticketed to prevent the loss of merchandise through ticket and product switching.

Section D - Sales Controls
This section reviews the controls that are in place with regards to invoices and employee purchases.

Section E - Point of Sale
The category covers the point of sale and the exception reporting. It reviews void, no sale and refund exceptions as well as other transactions.

Section F - Refund Control
Section F reviews procedures and controls that are used to prevent fraudulent refunds by customers and employees.

Section G - Purchasing / Receiving Control
Controls and procedures used to prevent vendor theft are examined in this section.


Section H - Paperwork Errors
Section H reviews procedures followed to detect and prevent errors from occurring.

Section I - Human Resources
This category examines the procedures followed to ensure proper hiring practices are followed.

Section J - Physical Security
Section J examines the physical security controls that are in place.

As required, a review of documents and procedures is conducted to ensure compliance with established procedures. Where no procedure, policy or control exists, recommendations are made. At the conclusion of the audit, a report is issued detailing the results of the review and recommendations for improvement. If required, a detailed examination relating to one of the topics can be performed following the report

Keywords: Premises Security, security consulting, Security Consulting Services, Security Industry