Reducing and eliminating theft is the first benefit considered in upgrading from traditional locks and keys to an electronic locking system for cabinets. It makes sense. State-of-the-art electronic access control systems can be more reliable and durable than mechanical locks and metal keys. For instance, secure electronic locking solutions can Read More
Loss Prevention Technology
Loss prevention technology is the practical application of technical processes, methods or information to solve problems or invent tools that can be successfully implemented for use in the retail loss prevention environment. This involves the latest advancements, use, and application of technologically-based products, techniques, methods or processes used in the retail loss prevention environment.
Most often we associate loss prevention technology with the use of sophisticated equipment, computers, the Internet, or other related resources and devices. But in simple terms, technology refers to the means and methods used to help solve real-world problems. It is a far-reaching term that may include simple tools or complex approaches and equipment.
The dynamic and highly competitive nature of the retail industry requires ingenuity and innovation in order to remain relevant, meets the needs and hold the interest of today’s progressive retail consumers. With expectations continuing to expand and intensify, loss prevention leadership must respond with equal focus and fervor. Innovative, cutting-edge technology that will address the challenges that lay ahead must remain a priority, and expectations will only continue to rise as we move deeper into the age of e-commerce and omni-channel retail. New enabling technologies are blossoming every day, and understanding the use and application of these tools has become a primary objective.
Technology beats the bad guys. Find out how by downloading our FREE Special Report, Retail Technology: Electronic Article Surveillance, RFID Inventory Management, and Trends in Omni-Channel Retailing.
While technology has helped to revolutionize the retail industry, with this revolution has come new risks. The need to find effective technology solutions has become paramount in order to stem the tide and implement practical protections against these threats. Industry resources and technology that further supports the needs and objectives of company loss prevention, data protection, and asset protection efforts must remain a primary consideration as part of the evolution of the loss prevention industry.
In response to escalating needs and growing concerns loss prevention practitioners must look beyond internal resources and work with external solution providers and thought leaders with proven track records in the industry. Loss prevention leadership must challenge vendor partners to think outside the box to design new and innovative technology solutions. Creative approaches must then be coupled with effective learning programs to improve efficiency and maximize productivity.
It’s in the best interest of every loss prevention practitioner to become more familiar with the latest trends in loss prevention technology. As our roles and responsibilities grow and develop, the ability to stay current will only become more crucial to long-term professional success.
At some point in your retail loss prevention career, if you haven’t done so already, you will be called upon to help make procurement decisions on new technology for retail stores, such as electronic article surveillance (EAS) or video surveillance. While you may be most interested in the features, functions, and benefits of the technologies, Read More
Data is the future of the loss prevention and asset protection industry. A single data-friendly LP professional can both identify and address leading indicators of loss for a significant grouping of stores, with no need for airfare, travel, or company car. Identification and correction of these leading indicators driven by Read More
Throughout my career in retail loss prevention, I’ve seen some pretty outrageous behavior captured by video surveillance systems. From performance and productivity issues – like employees showing up late and doing personal things on business time – to outright theft from the point-of-sale (POS) system, I’ve seen it all.
As an Read More
Radio frequency identification (RFID) skimming is a form of digital theft which enables information from RFID-equipped credit cards to be read and duplicated. It can be used as a form of wireless identity theft or credit card theft. Typically, it involves the illegitimate reading of RFID-enabled credit cards (or other Read More
A 2014 survey of 120 major retailers polled by Chain Link Research found improved inventory accuracy, which translated into reduced out-of-stock and better on-floor availability of merchandise, was the number-one reason for implementing an RFID inventory control program.
According to Su Doyle, IoT and RFID industry program lead for Checkpoint, several of Read More
Every so often, a simple idea catches the imagination, fervor, and engagement of a group of people and is developed into a successful practice that revolutionizes a business. Electronic article surveillance (EAS) source tagging is definitely one of those.
This story commemorates the evolution of source tagging with The Home Depot Read More
It wasn’t too long ago that the best way to deter shoplifters was to lock up your high-risk, high-value products or keep them behind the counter. But with ever-increasing competition and shrinking margins, successful retailers need to have their merchandise out on the sales floor, where potential customers can touch Read More
The loss prevention budget is typically the smallest in most organizations. This is especially true when it comes to acquiring technology. But what if you could somehow tap into the budgets of other departments to boost your loss prevention equipment budget? What if other people in your organization could help Read More
Data analysis is all about answering questions. To properly develop the questions, you must first identify your enterprise’s opportunities to increase profitability. Second, you need to identify the specific data needed to answer these questions. Finally, you must determine the tools and loss prevention software resources you can use to Read More