According to Hayes International’s 32nd Annual Retail Theft Survey, there are up to 1 million shoplifting incidents happening around the world each day. In fact, loss prevention professionals have determined that shoplifting is the biggest reason behind retail shrinkage, or the loss of products due to theft, damage or administrative error.
Since the COVID pandemic broke, shoplifting has more than tripled across the country. This is why now, more than ever, retail managers and leadership teams should focus on choosing the right EAS tags for retail stores to help deter and prevent shoplifting. When choosing the right EAS tags to protect your merchandise it all comes down to some specific factors, including the product types you sell and the existing electronic article surveillance (EAS) system you have set up in your store.
When handling cash, coins and checks, it is essential that you protect these assets from tampering throughout the transit process. While cash in transit companies first used heavyweight canvas bags to store cash and other currency, these bags do not have security features to indicate tampering or attempted theft. This means that anyone could take cash out of a deposit bag and no one would know unless they manually counted out the contents of the bag. According to Statistic Brain, employee theft costs U.S. businesses $50 billion per year, which includes losses from cash skimming.
However, tamper-evident deposit bags are made with multiple security features, such as void seals, to deter theft and inform cash handlers that a bag might have been tampered with. Today, we’ll go over how tamper-evident bags work and the 5 most important features you should look for in your tamper-evident bags.
In addition to finding the right solution for your business, systems deployment is one of the most crucial parts of adding EAS or RFID technology to your operations. At CONTROLTEK, we provide a holistic approach to managing system installation. With over 45 years of experience in product and technology deployments across multiple industries, from retail and supply chain management to aerospace and manufacturing, we are striving to perfect the process.
With rapid digitization becoming an expectation, rather than an innovation, in many industries, long-lived industries like banking and cash in transit (CIT) need to meet these new demands to keep up with a sea of new fintech competitors. While fintech offers convenience to attract younger customers, long-lasting financial institutions like banks and CIT companies have a history of security and reliability that encourages strong customer loyalty.
In today’s increasingly unpredictable world, you need to do whatever you can to keep your money safe, especially when transferring it to and from banking institutions. Knowing how to choose the best security bank products helps ensure that transactions are safe and your money is secured at all times.
Banking institutions are tasked with the challenge in finding a company that manufacturers the strongest bank coin deposit bags capable of preventing theft and streamlining internal and external handling processes. There are a number of criteria that the best bank coin deposit bags must meet in order to be favored by big banking and major couriers from around the country.
Barcodes have been the standard in retail inventory management since they were first implemented in the United States in the 1970s. Before the barcode, store employees had to manually enter product codes into the system, so adding barcodes to the supply chain was a simple and effective way to save time and money.
As more people become vaccinated, and the numbers of businesses opening their doors continue to increase, we get the sense we are starting to “return to normal”. However, retailers are faced with a familiar challenge that has recently spiked in occurrence: shoplifting.
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