Keith Gosling - New Look / Peter Davies - Orridge: Present at Retail Fraud
Keith Gosling - New Look / Peter Davies - Orridge: Present at Retail Fraud, May 2008
At this years Retail Fraud, held at The Novotel Hotel in Hammersmith, Keith Gosling (Head of Finance) New Look presented on Orridge's behalf. The presentation provided a valuable insight into "Loss Prevention" and the reasons for outsourced stocktakes.
Keith discussed his views on how in today's economic climate it's
even more important that retailers manage their stocks tightly.
Regular accurate counting of store stocks by Orridge certainly
provides significant assistance in achieving better stock
management, both in terms of understanding the net loss to the
store (i.e. shrinkage, in its numerous forms) and the gross
inaccuracy of the stock file (i.e. at SKU level). Inaccuracies in
the stock file occur at all stages of the products' movement cycle,
from supplier delivery inaccuracies through to the miss-keying of
returned items. When store stock files are accurately updated
replenishment instantly improves and increased sales figures are
evident thereafter. Therefore, stock counting has a key role to
play in retail. By outsourcing to Orridge- a supplier with proven
expertise the retailer benefits from Flexibility, integrity and
accuracy, all of which are essential, without the cost and labour
intensity that is typical of an in-house process.
