RILA’s Shark Tank: A Different Approach to Innovation and Entrepreneurship in Retail

innovation and entrepreneurship

RILA’s Asset Protection Leaders Council has a goal of bringing together top leaders in the asset protection community to solve the biggest challenges and problems facing retailers today. It’s a forum and a network, a focus group and a platform. The APLC emphasizes a mindset of staying informed and staying engaged. So how should AP professionals keep abreast of the evolving trends and technologies in retail?

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One way to for the AP community to stay informed about the newest and best ways to tackle retail shrink is to participate in the APLC Innovation Showcase event. In the spirit of innovation and entrepreneurship, this event (styled after the popular TV show Shark Tank) gives retailers a chance to collaborate on the evaluation of startup companies in the retail space.

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Jacque Brittain, LPC, talks about last September’s innovation showcase event (the “Shark Tank”) at the RILA Asset Protection and Supply Chain Leaders Council meeting in Nashville in a feature article for the April 2018 issue of LPM Online. From the article:

As part of the project ALPC leaders reviewed several start‑up companies, vetted those companies through RILA’s (R)Tech Center for Innovation, and reached a consensus on the top five that would participate in the exercise. Each of the chosen start‑ups were then given the opportunity to pitch their ideas to the rest of the leadership group, essentially giving everyone in the room the experience of a real‑time pilot program.

“In this particular environment it was probably one of the best ways to make the presentations for all involved,” said Paul Jaeckle, LPC, vice president of asset protection at Meijer Stores and chair of the APLC. “Even those who watched from the audience were highly engaged, seeing the same value for their companies as what the sharks were experiencing. It was something completely new and different and something that hasn’t been approached this way in the industry.”

Learn more about the APLC’s approach to innovation and entrepreneurship in “In an Ocean of Change, LP Needs More Shark Tanks.” [Don’t forget to check out the recaps of Day 1 and Day 2 of the recent RILA Retail Asset Protection conference in Orlando, too.]

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