Carphone Warehouse is poised to introduce a system to minimise shrinkage and business risk in the UK following its adoption in the eight other European countries it operates in.
The web-based dashboard has been created by the retailer, working with loss prevention software provider Oris, and provides information on shrink figures and margin risks appropriate for each user’s job role. The retailer wanted a tool that would allow staff to manage loss and risk in one place.
Carphone Warehouse European loss prevention and fraud support manager Justin Firlotte said that the system is being used by loss prevention staff across Europe, and will be rolled out to area sales managers in the UK, Ireland and the Netherlands by the end of the month.
Each country is able to configure the dashboard with appropriate key performance indicators. The data that populates the dashboard is being pulled from sources including its sales, inventory management and reporting systems.
Firlotte said that the idea of the system is to prevent loss from occurring, as much as trying to deal with it once it has happened.
The dashboard highlights the risk of procedural non-compliance – for example, calculating the cost of staff failing to return airtime contract documentation on time or filling in documentation incorrectly, which can generate financial penalties.
Feedback will be gathered from Carphone Warehouse area managers in the UK before a decision is taken on whether to roll the system out to staff at store level.