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What Is Loss Prevention and Why Does Your Company Need to Focus on It?

If you own a company that has its own production line for a certain product, or even if all you do is transport products from one place to another, it’s important to have a good loss prevention policy in place. What is loss prevention? It’s essentially a process whereby the company sets in place standards and hires specialists who handle cases when any deliberate or inadvertent actions or mistakes lead to the loss of profit within the company.

This can include anything from theft and vandalism attributed to clients and employees, to poor business practices and lacking policies that the company has in place. If someone steals some items from your store, and you manage to catch them due to your loss prevention experts doing their job, that’s an effective loss prevention action associated with a deliberate action to reduce your profits.

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In most cases, however, loss prevention specialists work to minimize loss by proposing changes to business policies, such as the way employees handle fragile items and the standards by which a product is considered damaged or broken, if it was handled in an improper way. In most cases, your experts will analyze all aspects of your product, and draw the necessary conclusions as to what type of loss prevention measure is needed for that case and similar ones as well.

For more information, consult with loss prevention commercial security installation Colorado specialists to give you strategies to protect your employees and business profitability.

 

Fred Frazier
Fred Frazier
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