Shrink, comprised of shoplifting, employee or supplier fraud, and administrative errors, rose in the U.S. from 1.28 percent of sales in 2013-2014 to 1.97 percent during 2014-2015, based upon responses from common retail respondents who participated in Global Retail Theft Barometer surveys both years. Globally, this compares to 1.42 percent, a figure also up from the previous .94 percent average of all common retailers surveyed the previous year.
"Buy online, pickup in store" has become an increasingly popular strategy for retailers looking to reduce delivery costs. But a new study reveals it isn't working as well as the store owners hope.
A fleet commander in the Indonesian Navy has said that about 90 percent of piracy cases in the Malacca Strait area turn out to be bogus claims related to insurance fraud or business competition.
Whether it's a toy, automobile, medical device or food item, not a day goes by without news of another product recall. Unfortunately, recalls are a reality of the global economy and it truly is a matter of when, not if, a company will be impacted by one. Navigating a product recall tests customer relationships, puts pressure on the supply chain, affects sales and can paint brands in an unfavorable light. Given the serious nature of these and other recall execution challenges, it's critical that organizations have a recall plan in place long before an event occurs.
With cyber risks looming ever larger, CFOs must avoid "starving" information technology security budgets, the author of a recently released survey concerning cybersecurity and corporate governance warns.