TRADITIONAL RETAIL AUDITS
FINANCIAL AUDITS consist of taking inventory at the most basic level of detail in the form of price times quantity counted by department. The result of a financial audit breaks down the store's physical retail inventory into dollar amounts by departments.
HYBRID AUDITS consist of downloading a store's pricebook into the auditor's data computer. Inventory is recorded on the data computer by scanning "like items" and multiplying it by quantity counted. The results of a hybrid audit break down the store's physical retail inventory into dollar amounts by departments.
LINE-ITEM DETAIL AUDITS consist of downloading a store's pricebook into the auditor's data computer. Inventory is recorded on the data computer by scanning each retail product in the store and multiplying it by the quantity. Results break down the store's physical retail inventory by UPC determining the exact totals of each product located in the store.
COST BASED AUDITS
COST BASED AUDITS are necessary for operating a food based program. Cost items can include food, paper products, and packaging used to produce proprietary, made to order food offerings. Items counted are recorded on a data collection sheet, by item, by the corresponding department. The data is recorded then calculated to reflect cost department totals, which is then used to calculate the margins.
LOSS PREVENTION & TRAINING
TRAINING is offered in two different versions. A 7-hour Red Flags class includes the following topics: Justification of Employee Theft, Employee Theft Statistics, Fraud Triangle, Vendor Procedures, Grazing, Financial Red Flag Behaviors, Behavioral Red Flags, Inventory Preparation, review of the operator's specific exception reports, and additional requests deemed necessary by the operator. A 3-hour condensed version of the Red Flags class, includes the following topics: Justification of Employee Theft, Employee Theft Statistics, Fraud Triangle, Vendor Procedures, and Site-Specific Issues as deemed necessary by the operator.
LOSS PREVENTION CONSULTATIONS are completed with the goal of lowering the operator's losses with inventory. Consultations will be guided based on the operator's needs and previous inventory results. Loss prevention consultations are a unique service that are exclusive to Assured Inventory LPS.
LOSS PREVENTION INVESTIGATIONS are conducted with the goal of identifying the operator's employees who are creating inventory losses. Investigations are typically conducted in a one-on-one interview style between a member of Assured Inventory LPS, the employee, and a witness after a consultation and reasonable suspicion that an employee is directly contributing to losses is determined.