“If it looks like a duck and quacks like a duck, it’s probably a duck.” We’ve all heard some form of the “Duck Test” before. We use the folksy expression when we want to get to the heart of the matter and clearly describe something for what it is. What 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.
Loss prevention practitioners have a long track record of investing in a wide range of technologies to help control the various losses retailers experience. The extent to which they do this has regularly been measured by various annual surveys, such as the National Retail Security Survey. This benchmarking study, however, 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
We find ourselves living in a time when nearly every decision we make is recorded. Where we drive, what we buy–all this data is collected somewhere. We permit it in the vague hope that somebody on the other end is being responsible with our information.
The loss prevention industry is now Read More
Closed circuit television, or CCTV, is a television transmission system that is applied with the use of video cameras to transmit a signal to a specific, limited set of monitors. As the name implies, it is a system in which the circuit is closed and all the elements are directly Read More
As we march closer to 2020, a few common themes have emerged among the research questions that the Loss Prevention Research Council (LPRC) receives from its membership base. While much of our research seeks to provide insight on whether introducing a new loss prevention technology solution or policy to your Read More
Listening to loss prevention leaders discuss their relationships with information technology (IT) departments and offer advice for strengthening them can seem a bit like eavesdropping on marriage counseling. There is admission of a “love-hate” dynamic, occasional hand-wringing over who gets final say, and counsel to “listen, don’t just talk” and Read More
To really consider yourself a professional and a craftsman at any skill, practice is a must. We benefit from practice by applying knowledge through interaction, connecting with the material on a deeper level and learning from the experience. This concept is no less true when it comes to interview and Read More
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
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