B&Q drives down shrinkage by 15%

DIY retailer B&Q has implemented new technology in a bid to slash the quantity of stock lost through shrinkage.

Since the system was introduced last month, it has contributed to a reduction of shrinkage by 15 per cent compared with last year.

The technology, supplied by retail IT specialist Oris, enables B&Q to rapidly target stores with specific shrinkage problems and allows the comparison of key information across stores, regions and the entire chain.

Previously, B&Q bosses had to sift through manual reports.

B&Q director of profit protection Laurence King said: 'Shrinkage in retail is always a challenge and this new technology has helped us establish a downward trend. It will also help us to highlight which stores to invest training in and concentrate resources on.'

King said that B&Q has brought shrinkage levels below budget over the past year, but would not comment on the exact reduction.