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.

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Adding Value through Emerging Loss Prevention Technology and Data Analytics

Loss prevention technology, especially analytics, has evolved exponentially over the past few decades. 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, they still required   Read More

Six Steps to Calculate ROI for a New RFID Solution in an Apparel Business

With the appropriate RFID solution, 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   Read More

LP101: Building a Loss Prevention Program through the Effective Analysis of Information

When building our loss prevention program interpreting the meaning of all of the various information that has been collected can be a complicated process. While this involves looking for patterns—similarities, disparities, trends, exceptions and other potential relationships—and determining what these patterns might mean, we must also ensure that we have   Read More

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

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