New retail technology has evolved exponentially over the past few decades, especially when it comes to analytics. Originally, descriptive analytics was the primary investigative tool used across our industry. These solutions provided only a snapshot of information about past events, often in the form of reports. When the reports were opened, 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.
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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.
Why is it that some product protection technologies has been around and working for decades, while other retail loss prevention solutions only seem to work for a few months before offenders aren’t impressed? Many components that factor in to answering this question, but one variable in particular explains a large Read More
The performance of electronic security systems is critical to loss prevention. First, they do a lot of the department’s heavy lifting—performing vital operations like surveillance, fire and intrusion detection, and RFID access control. And a new system or an upgrade doesn’t come cheap, which is a second reason why you Read More
Technology regarding assets is moving at a fast pace. The ability to accurately monitor and track assets is of paramount importance to many industries and can protect the assets that a company has.
Radio frequency identification (RFID) technology is one way that any company can track their assets accurately. But what Read More
With appropriate RFID solutions, store associates can easily restock merchandise on the sales floor, replenish out-of-stock items, improve inventory accuracy at the point of sale, and process returns efficiently to make them available for resale. The technology helps retailers ensure merchandise availability in store, as it provides clear visibility on Read More
When looking to protect their merchandise, retailers can choose from a number of electronic article surveillance (EAS) hard tag options, including in-store applied hard and alarming tags, factory-applied source/soft tag labels, and factory-applied hard tags (FAHT).
FAHT differ from in-store applied hard tags and factory-applied soft tags in several ways, depending on Read More
More than ever, it seems that those in loss prevention are being faced with a plethora of new loss prevention technology solutions. In fact, at a recent loss prevention conference organized by the Retail Industry Leaders Association (RILA), over 37 different technologies were being promoted, including global positioning systems (GPS), Read More
Over recent years, we’ve witnessed a resurgence of interest and substantial growth in the use of radio frequency identification (RFID) technology in retail—a veritable RFID Renaissance—with well over a billion tags used this year, not just in apparel, but for other categories and uses as well. It is being used Read More
Video surveillance cameras have become a mainstay for many loss prevention programs. As the technology evolves and business needs grow more complex, loss prevention leaders are looking for solutions that are both affordable and capable of meeting the escalating demands of the business.
LP Magazine sat down with Mike Dunn, vice president Read More
You may know i3 International for their cameras and software, but take a second look and you’ll see that they can do so much more. Over the last 30 years, i3 has grown from a family-run business into a global leader in designing, manufacturing, and supplying digital video solutions for Read More