Loss Prevention

The vendor-retailer relationship is complicated, time-consuming, and sometimes frustrating. But if it's the right relationship, it can be mutually beneficial and everyone is happy—or at least minimally dissatisfied, depending on your perspective.

It is equally important to be able to align and describe how a selected protective countermeasure or treatment actually works to affect a problem.

LPM Media Group is on site at Walmart's Asset Protection National Meeting this week in Rogers, AR, where the theme of the event centers around embracing change to enable the transformation of the business while reducing losses and accidents.

Academics who examine crime and security-related issues aren’t always seeking practical solutions, but some recent research studies have pragmatic applications and impart actionable advice on relevant LP issues.

The opening comments gave a feeling of game day as the president of the association, Rocco Prate (The Wendy's Company) took the stage like a head coach in the locker room, pumping up his "team" for the event ahead.

"It's not easy for any of us to balance all of the many priorities that we have in our lives," said Duke. "But once you're engaged in something that you're truly passionate about—something that's in your heart and you truly believe in—you find the time."

Carr believes that true leadership requires a dedication beyond the limits of our basic skills and abilities. The capability to be flexible, adaptable, and open-minded heightens our career potential.

To the average consumer, a loss prevention manager might once have been perceived as a “security guard”: a reactionary presence in a retail establishment whose primary responsibility is to apprehend shoplifters.

"In 1995, our president and CEO said to Hibbett Sports store employees: Your first job with the company is to protect the assets of the company."

Any mishandling or theft of found property while under LP’s control is sure to give the department a black eye and reflect poorly on those in charge. What does it take to avoid that embarrassment?