LPQ 104 Notes&Test|2023 LATEST UPDATE|GUARANTEED SUCCESS

The actions taken when we recognize that an individual is involved in a theft (or we believe that the individual through their behavior may become involved in a theft) to make the individual aware of our presence and thus discourage the dishonest activity is known as: Active Deterrence In order to establish an effective Training & Awareness program that best suits our needs, engages our employees and sends the desired message, a primary objective will be to: Build a program that reflects the company's culture 00:01 01:18 When it comes to deterring external retail theft, there is no substitute for an alert, well trained sales team. This common retail service practice emphasizes that whenever a customer enters the store, and whenever a customer comes near a store associate, the associate should look the customer in the eye, greet them and ask them if they need any assistance. Meet & Greet" Philosophy An accurate comprehension and perspective on the many different elements of shrink control, how those elements are interrelated with the other aspects of the business, and cultivating a way of thinking that instills a sense of urgency and importance that shrink issues must hold in our day to day tasks and responsibilities are all critical components of: A Shrink Awareness Plan If a store has a Net Profit of 4% and that same store incurred a loss of $150 on a register, then what would be the dollars needed to offset that loss in incremental sales? $3750 An alert and conscientious sales associate is a shoplifter's worst enemy. Approaching and greeting customers, making eye contact, offering assistance and other practices that help to effectively manage the customer visit are examples of how good Loss Prevention practices can effectively correspond to: Good Customer Service Practices If a store has a Net Profit of 4% and that same store incurred a loss of $40,000 in inventory shrinkage, then what would be the dollars needed to offset that loss in incremental sales? $1.000.000 Strong product presentation coupled with proper and effective use of store fixtures and displays will increase sales for the merchandise, draw in more customers, eliminate many opportunities for dishonest customers, increase associate exposure to the specific area and provide improved visual indicators when product is missing. These are all examples of how good Loss Prevention practices can effectively correspond to: Good Merchandising Practices Loss Prevention principles should be built on a positive, upbeat and constructive foundation. Instead of simply looking to uncover dishonesty, we should also strive to promote values and integrity. We should look to establish personal integrity; demonstrating the desire to make choices that are objective and honorable and spreading that message through our awareness training programs. This important Loss Prevention concept is known as establishing: A Culture of Honesty If a store has a Net Profit of 4% and that same store incurred a loss of $3000 in an associate theft, then what would be the dollars needed to offset that loss in incremental sales? $75000 in sales Required Sales to Offset Losses formula Required Sales to Offset Loss = loss/net profit % How to develop a true awareness culture Protection knowledge, prespective on think and how it relates to business and cultivate attitude of the importance shrink awareness 00:00 01:18 how can shink impact profitability loss sales, skewing inventory levels and replenishment and company growth Who is a shoplifer's worst ememy a conscientous sales associate is shoplifer's worst ememy