Asset loss prevention is a major concern for many commercial properties. Retail stores, in particular, need to be mindful of how they maintain asset protection to protect their incoming inventory items. Here are some excellent ways to ensure full asset protection at your store this summer.
Create an Inventory System
Without a solid inventory system in place, you won’t know which products might need additional protection. In the past, tracking your inventory involved dealing with reams of paperwork, which was time-consuming and hard to keep up with. However, technology has been developed that makes it much easier to see where your inventory is going. Determining the source of asset loss using your inventory system tools is a great way to keep this potential problem from getting worse, even if it is barely noticeable at first.
Retrain Your Employees
Employees are the heart of your company. Without well-trained and happy employees, your business could not run as smoothly as it does now. Moreover, you can enhance your asset protection by consistently offering your employees more AP training. With the right programs, you can show your employees how they can do their part to deter shoplifting or other theft and how to react when they suspect that other employees may not be as honest as they are.
Secure Monetary Assets
Your company’s assets do not consist of the products you carry and sell alone – hard currency makes up another major portion of your assets. So you should also be on the lookout for signs of unusual money loss. Implementing commercial-grade lockboxes is an excellent way to ensure that all money is protected before it can be deposited.
Increase Physical Security Measures
Increasing your store’s physical security measures is one of the best ways to discourage asset loss and bolster asset protection. You can also hire security guards and post them at strategic points throughout the premises both inside and outside your doors. That way, they can respond to any potential incidents much more quickly.
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