Loss Prevention Issues, Challenges, and Predictions in 2018

loss prevention issues

What does 2018 look like for the loss prevention industry? Consumers expect products to be available immediately, brick-and-mortar retailers are focused on differentiating themselves with in-store experiences, and new technologies keep emerging to both improve and challenge our daily work.

In response to this evolution, LP Magazine interviewed three executives in the retail solution provider space to hear their thoughts on loss prevention issues and predictions in 2018. The interview appears in the January–February 2018 print issue and includes insights from Ryan Carter, CEO of Instakey Security Solutions; William Santana Li, CEO of Knightscope, and Ed Tonkon, President of Zebra Retail Solutions.

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In the interview with LPM, the three execs share their perspectives on what LP pros need to focus on in the year ahead. From the article:

CARTER: With a reduction in overall brick-and-mortar growth and an increasing aim at omni-channel expansion, loss prevention will need to realign their resources more toward product visibility and inventory controls. Individual consumer buying habits continue to evolve, and there is a growing need for more visibility of the available inventory.

SANTANA LI: We are once again moving forward in a new age of technology, and this will continue to demand our focus and attention. In 2017 we began scaling operations of autonomous security robots nationwide after numerous successful deployments in California and believe this will be an escalating trend in 2018.

TONKON: Inventory accuracy and visibility will continue to drive the loss prevention agenda as retailers address the complexities of omni-channel commerce. This is vital to developing a winning retail strategy today and directly benefits loss prevention efforts by helping organizations understand what items are missing.

Read more insights on where these experts think LP needs to step up its game and what other loss prevention issues may crop up in the technology sphere in 2018 in “The Year Ahead in LP.”

You can also visit the Table of Contents for the January–February 2018 issue or register for a free subscription to the magazine. (Note: if you’re already subscribed and logged in, the previous link will take you to the current online version of the magazine instead of the subscription form.)

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