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U.S. Theft is Down, 2.6bn decline in losses

This article from Supply Chain Brain points to two incongruous statements: first, theft (retail, employee theft, and vendor fraud) is down, resulting in $2.6bn decline in losses for United States companies. According to a recent nationwide survey funded by ADT Commercial Security, this points to the ability of retailers to crack down on thefts and implement stronger anti-theft policies across not only the final destination of goods, but also the supply chains and manufacturers of those goods as well: Of the four categories of shrink or losses, employee theft constitutes the largest portion at 43.9 percent or approximately $15.1bn. Shoplifting, at 35.7 percent or $12.3bn, is the second-largest area of lost profits with administrative error and vendor fraud accounting for the balance. “The decrease in retail theft can be a direct result of the widespread investment in technologies and integrated solutions by retailers,” said Michael Creedon, vice president, National Accounts for Retail at ADT Commercial Security. “Clearly security solutions are proving to be a solid investment and have saved retailers billions of dollars in losses every year. There are a number of technologies and services available today that can help retailers continue to prevent theft, decrease shrinkage and track merchandise effectively.” Through the use of RFID tags and other inventory traffic tech, retailers are able to gain a level of insight and control that has previously been unatainable. Now, however, retailers and supply chains are able to keep a more steady eye on the process from start to finish in the retail world.

About Matthew Kabik

Matthew Kabik is the former Editor of Computer Aid's Accelerating IT Success. He worked at Computer Aid, Inc. from 2008 to 2014 in the Harrisburg offices, where he was a copywriter, swordsman, social media consultant, and trainer before moving into editorial.

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