Loss Prevention Strategy

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Nicholas Huber - One of the best experts on this subject based on the ideXlab platform.

  • Minimizing product shrinkage in the supply chain through the use of radio-frequency identification: A case study on a major Australian retailer
    2007
    Co-Authors: Nicholas Huber
    Abstract:

    Radio Frequency Identification (RFID) has been used for over half a century. Today, RFID is commonly used for electronic toll collection on motor highways, document management, identification of gaming tokens and chips in casinos, tracking and sorting luggage at international airports, managing diamonds for jewellery businesses, and inventory management for pharmaceutical and retail industries. These are just a few of the many thousands of applications that RFID can facilitate. Currently, the retail industry uses barcodes to identify products and Electronic Article Surveillance (EAS) as an anti-theft mechanism solely within retail outlets. Both systems have the ability to play a role in an overall Loss Prevention Strategy, yet they fail to minimise product shrinkage across the entire retail supply chain from the point of manufacture to the end customer. Recent developments in automatic identification (auto-ID) have seen the emergence of Generation-2 (Gen-2) RFID technologies as an asset management solution integrated into the supply chain. In addition, the recent ratification of a global standard for RFID tags and data storage is intended to oversee the technology’s interoperability on a global scale. So far, this type of technology provides a means to uniquely identify tagged items, track and trace an item at any given time and rapidly capture data. One retailer who has fully embraced Gen-2 RFID technology is Wal-Mart in the United States. Wal-Mart has mandated its suppliers RFID enable products as part of this initiative. Retailers based in the United States are adopting RFID technology but it is yet to engage the Australian retail industry. Focusing on RFID as a potential technology to minimise product shrinkage across the retail supply chain, this thesis provides conclusive results in an attempt to complement existing works. It is also designed to further contribute to the field of information technology and the application of RFID, thus bringing with it benefits to the academic community and the retail industry. Publication Details This thesis was originally submitted as Huber, N, Minimising product shrinkage across the supply chain using radio-frequency identification: A case study on a major Australian retailer, Bachelor of Information and Communication Technology (Honours), University of Wollongong, 2006, 192p. This thesis is available at Research Online: http://ro.uow.edu.au/thesesinfo/8

  • Minimizing Product Shrinkage across the Supply Chain using Radio Frequency Identification: a Case Study on a Major Australian Retailer
    International Conference on the Management of Mobile Business (ICMB 2007), 2007
    Co-Authors: Nicholas Huber, Katina Michael
    Abstract:

    This paper identifies the contributing factors of product shrinkage and investigates the current state of anti-theft technology as part of the Loss Prevention Strategy for a major Australian retailer. Using a case study approach a total of eleven interviews were conducted with employees of the retailer to identify factors contributing to product shrinkage and ways to overcome these through the use of radio frequency identification (RFID) technology. Known sources of product shrinkage included: warehouse discrepancies, internal and external theft, product recalls, shop return fraud, extortion, human and system error, poor stock control, poor rotation of stock, misplaced product items, lost products, product spoilage and damage. Each of the retailer's stores, in the chain of approximately 700, loses about 350000 Australian dollars to product shrinkage every six months. This paper argues that RFID would act as a partial solution toward the minimization of the retailer's product shrinkage and provide greater visibility throughout the supply chain.

  • ICMB - Minimizing Product Shrinkage across the Supply Chain using Radio Frequency Identification: a Case Study on a Major Australian Retailer
    International Conference on the Management of Mobile Business (ICMB 2007), 2007
    Co-Authors: Nicholas Huber, Katina Michael
    Abstract:

    This paper identifies the contributing factors of product shrinkage and investigates the current state of anti-theft technology as part of the Loss Prevention Strategy for a major Australian retailer. Using a case study approach a total of eleven interviews were conducted with employees of the retailer to identify factors contributing to product shrinkage and ways to overcome these through the use of radio frequency identification (RFID) technology. Known sources of product shrinkage included: warehouse discrepancies, internal and external theft, product recalls, shop return fraud, extortion, human and system error, poor stock control, poor rotation of stock, misplaced product items, lost products, product spoilage and damage. Each of the retailer's stores, in the chain of approximately 700, loses about 350000 Australian dollars to product shrinkage every six months. This paper argues that RFID would act as a partial solution toward the minimization of the retailer's product shrinkage and provide greater visibility throughout the supply chain.

  • Vendor Perceptions of How RFID can Minimize Product Shrinkage in the Retail Supply Chain
    2007 1st Annual RFID Eurasia, 2007
    Co-Authors: Nicholas Huber, Katina Michael
    Abstract:

    The objective of this paper is to investigate product shrinkage in the retail supply chain, and to consider how radio frequency identification (RFID) could act as a partial solution toward a retailer's Loss Prevention Strategy. The research uses semi-structured interviews to collect data, and a qualitative content analysis to present the results. Given that the number of RFID deployments in the retail supply chain is limited, RFID vendors, resellers, and associations are instead used to gather the current value propositions. Representatives from nine Australian RFID vendors and associations were interviewed in August and September of 2006. The results indicate that RFID can be used to minimize Losses in the supply chain significantly and particularly address product authentication issues. For RFID to be adopted as a Loss Prevention mechanism, however, organizations must have some visibility of what constitutes product shrinkage in their retail supply chain, and the resultant monetary Losses ensuing. All too often, return on investment (ROI) calculations on the adoption of RFID in retail, is calculated only on known sources of product shrinkage, while unknown sources are unaccounted.

Katina Michael - One of the best experts on this subject based on the ideXlab platform.

  • Minimizing Product Shrinkage across the Supply Chain using Radio Frequency Identification: a Case Study on a Major Australian Retailer
    International Conference on the Management of Mobile Business (ICMB 2007), 2007
    Co-Authors: Nicholas Huber, Katina Michael
    Abstract:

    This paper identifies the contributing factors of product shrinkage and investigates the current state of anti-theft technology as part of the Loss Prevention Strategy for a major Australian retailer. Using a case study approach a total of eleven interviews were conducted with employees of the retailer to identify factors contributing to product shrinkage and ways to overcome these through the use of radio frequency identification (RFID) technology. Known sources of product shrinkage included: warehouse discrepancies, internal and external theft, product recalls, shop return fraud, extortion, human and system error, poor stock control, poor rotation of stock, misplaced product items, lost products, product spoilage and damage. Each of the retailer's stores, in the chain of approximately 700, loses about 350000 Australian dollars to product shrinkage every six months. This paper argues that RFID would act as a partial solution toward the minimization of the retailer's product shrinkage and provide greater visibility throughout the supply chain.

  • ICMB - Minimizing Product Shrinkage across the Supply Chain using Radio Frequency Identification: a Case Study on a Major Australian Retailer
    International Conference on the Management of Mobile Business (ICMB 2007), 2007
    Co-Authors: Nicholas Huber, Katina Michael
    Abstract:

    This paper identifies the contributing factors of product shrinkage and investigates the current state of anti-theft technology as part of the Loss Prevention Strategy for a major Australian retailer. Using a case study approach a total of eleven interviews were conducted with employees of the retailer to identify factors contributing to product shrinkage and ways to overcome these through the use of radio frequency identification (RFID) technology. Known sources of product shrinkage included: warehouse discrepancies, internal and external theft, product recalls, shop return fraud, extortion, human and system error, poor stock control, poor rotation of stock, misplaced product items, lost products, product spoilage and damage. Each of the retailer's stores, in the chain of approximately 700, loses about 350000 Australian dollars to product shrinkage every six months. This paper argues that RFID would act as a partial solution toward the minimization of the retailer's product shrinkage and provide greater visibility throughout the supply chain.

  • Vendor Perceptions of How RFID can Minimize Product Shrinkage in the Retail Supply Chain
    2007 1st Annual RFID Eurasia, 2007
    Co-Authors: Nicholas Huber, Katina Michael
    Abstract:

    The objective of this paper is to investigate product shrinkage in the retail supply chain, and to consider how radio frequency identification (RFID) could act as a partial solution toward a retailer's Loss Prevention Strategy. The research uses semi-structured interviews to collect data, and a qualitative content analysis to present the results. Given that the number of RFID deployments in the retail supply chain is limited, RFID vendors, resellers, and associations are instead used to gather the current value propositions. Representatives from nine Australian RFID vendors and associations were interviewed in August and September of 2006. The results indicate that RFID can be used to minimize Losses in the supply chain significantly and particularly address product authentication issues. For RFID to be adopted as a Loss Prevention mechanism, however, organizations must have some visibility of what constitutes product shrinkage in their retail supply chain, and the resultant monetary Losses ensuing. All too often, return on investment (ROI) calculations on the adoption of RFID in retail, is calculated only on known sources of product shrinkage, while unknown sources are unaccounted.

C Dasher - One of the best experts on this subject based on the ideXlab platform.

  • building commissioning as an insurance Loss Prevention Strategy
    1998
    Co-Authors: R C Brady, C Dasher
    Abstract:

    Insurance companies for design professionals pay millions of dollars in HVAC-related claims each year. DPIC is the second largest insurer of design professionals in North America. Their study of these claims indicates that building commissioning could save significant claim payment dollars. Commissioning--as an integrated, fundamental building/design/construction/operation process improvement--has the potential to improve the design process, the quality of design, and building performance. Improved building performance not only reduces the likelihood of professional liability claims, it also improves owner satisfaction and user productivity, which in turn builds the reputations of architects and engineers. Recognizing that commissioning could improve claims statistics, this design professional insurance company conducted the following studies: (1) a telephone survey of 40 insureds to assess policyholder understanding and interest in building commissioning; (2) focused discussions with two groups of insureds (one group of architects and one of engineers) to get their feedback on the concept of commissioning and potential claims-reduction program options; and (3) an investigation of closed claims files to assess the degree to which commissioning could mitigate claims. This paper will review the results of these studies and discuss the insurance company's plans for promoting commissioning as a Loss-Prevention Strategy for its policyholders.

R C Brady - One of the best experts on this subject based on the ideXlab platform.

  • building commissioning as an insurance Loss Prevention Strategy
    1998
    Co-Authors: R C Brady, C Dasher
    Abstract:

    Insurance companies for design professionals pay millions of dollars in HVAC-related claims each year. DPIC is the second largest insurer of design professionals in North America. Their study of these claims indicates that building commissioning could save significant claim payment dollars. Commissioning--as an integrated, fundamental building/design/construction/operation process improvement--has the potential to improve the design process, the quality of design, and building performance. Improved building performance not only reduces the likelihood of professional liability claims, it also improves owner satisfaction and user productivity, which in turn builds the reputations of architects and engineers. Recognizing that commissioning could improve claims statistics, this design professional insurance company conducted the following studies: (1) a telephone survey of 40 insureds to assess policyholder understanding and interest in building commissioning; (2) focused discussions with two groups of insureds (one group of architects and one of engineers) to get their feedback on the concept of commissioning and potential claims-reduction program options; and (3) an investigation of closed claims files to assess the degree to which commissioning could mitigate claims. This paper will review the results of these studies and discuss the insurance company's plans for promoting commissioning as a Loss-Prevention Strategy for its policyholders.

Nye Lg - One of the best experts on this subject based on the ideXlab platform.

  • Office staff savvy: quality staff-patient communications as a Loss Prevention Strategy.
    The Journal of medical practice management : MPM, 2001
    Co-Authors: Nye Lg
    Abstract:

    : Based on the prevalence of medical error that continues to make headlines, you would think that physicians are so busy defending medical malpractice lawsuits that they don't have time to practice medicine. Although many physicians may feel like this, in fact, it is not the case. Contrary to what the media would have you believing, it is not "the conspiracy of silence" that's keeping physicians out of court. It's good, old-fashioned effective communication: courtesy, empathy, friendliness, and professionalism. Because the complexity of health care delivery imposes ever-greater demands on physicians' time, medical office staff play a larger-than-ever role in defining the tenor of physician-patient relationships. It has become incumbent on staff to become the physicians' partners in effectuating patient relationships built on quality communications. This article will discuss ways in which office staff can utilize effective communications to improve physician-patient relationships, thereby reducing professional liability exposures.