The retail asset protection industry lost one of its most interesting and popular people with the recent passing of Larry Yeager, referred to by many as “the Mayor of Alpha.” His legacy is the impressive array of positive character traits he possessed, and the larger-than-life way that he impacted the people around him. Here is a remembrance from many who knew him best.
Analytics has always been a critical aspect of loss prevention and retail. We could never survive as businesses—or as professionals—without the use of analytics. Yet while the use of data analytics has made huge strides with the help of today’s technology, we can never afford to lose sight of just how important it is to everything that we do.
Businesses moving goods through their supply chains have two choices: transport it themselves or outsource it. While the decision to outsource is usually a no-brainer, the challenge for loss prevention professionals becomes how to best manage to this risk without increasing costs beyond operational savings. There are usually three basic qualifiers to be considered “competent” or low risk by your clients.
It will take time for traditional industries like retail to weigh the benefits and challenges of cryptocurrency. In the end, if retailers want to win over the 7.1 million active bitcoin users, they will have to take steps on their own to accommodate these consumers.
What does it take to be a true solutions partner? How do they go about approaching their business partners and establishing the foundation for real and lasting solutions—and relationships—with their loss prevention customers? For perspective and input, LPM turned to executive leadership from three leading companies to discuss some common themes.
"Let me get this straight. You’re asking us to spend over $3 on a tag with a scary warning label and glass vials filled with indelible dye. If a shoplifter tries to remove it without the right detacher, the vials will explode, and the dye will ruin the garment. You’ve got to be kidding!” LP executive [circa 1990]
Whether you are interviewing potential suspects or witnesses, the goal will be the same—get the information you are looking for, while being open and receptive for that which you may discover on the way to your goal. Not all techniques work all the time. Here are some examples that worked, and some pitfalls to avoid.
Download this 34-page special report from Loss Prevention Magazine about types and frequency of violent incidents, impacts on employees and customers, effectiveness of tools and training, and much more.