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BELK: Loss Prevention

BELK: Loss Prevention. Jessica Green Jonathan Turner August 21, 2012 ECPI University. Founded in 1888 Under Third generation of leadership Located in 16 Southern States Has more than 20,000 employees. Belk History. What is needed to be changed?

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BELK: Loss Prevention

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  1. BELK:Loss Prevention Jessica Green Jonathan Turner August 21, 2012 ECPI University

  2. Founded in 1888 • Under Third generation of leadership • Located in 16 Southern States • Has more than 20,000 employees Belk History

  3. What is needed to be changed? • Is it managerial changes or more LP changes? • Who is this affecting? • How will we innovate this change? THESE ARE QUESTIONS THAT WE FIRST ASKED OURSELVES. The Change… Loss Prevention

  4. Strengths Weaknesses quality management Problematic scheduling Poor communication Lack of employee involvement • An established credit base • Community awareness • Wide ranges of storefronts • High quality of customer service SWOT

  5. Opportunities Threats Retails stores Theft Economy fluctuations Unsatisfied customers Weather conditions • Improved customer service • Product knowledge • More personalize experience. SWOT Cont.

  6. Belk Inc. Profile

  7. Company Wide: 80,943,873* yearly loss within 303 stores. (millions) • Belk Haywood Mall: 288,879* • Similar size stores: 245,541* • Smaller stores: 43,332* Loss Prevention: Current State *Approximate Loss

  8. What should be changed? Why this change? Prevent Loss Accuracy Increase in sales Better for the company • Structure in… • Departments • Scheduling • Buzzer exiting or entering building Change Strategy

  9. 6 month Time Frame February Fiscal year 2013: Beginning Inventory. April June March July Mid Year Inventory May Time Schedule

  10. http://www.youtube.com/watch?feature=player_embedded&v=_TrhphCRibM#t=39shttp://www.youtube.com/watch?feature=player_embedded&v=_TrhphCRibM#t=39s Prevent: Theft Videos

  11. Improve by 50% by next years inventory. • EXPANSION! YAY IMPROVEMENT!

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