LP Magazine

JUL-AUG 2018

LP magazine publishes articles for loss prevention, asset protection, and retail professionals covering shrinkage, investigations, shoplifting, internal theft, fraud, technology, best practices, and career development.

Issue link: http://digital.lpportal.com/i/1004777

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Page 57 of 68

SOLUTIONS SHOWCASE INSTAKEY S ometimes the best solutions are unconventional. To InstaKey ® Security Systems, unconventional solutions can be a result of working with clients to develop a means to organize and control locks, keys, and associated expenses in the most effective and efficient way possible. In this particular case, InstaKey provided a solution that combined their brand of locks with another manufacturer's locks to offer their client the security, convenience, and control they needed in their stores at a lower cost. Opportunities at Bob's Discount Furniture Six years ago, Patrick Burns, CPP, LPI, joined the corporate team at Bob's Discount Furniture as the vice president of loss prevention. Burns was brought on as an experienced loss prevention professional and was tasked with ensuring that the company's LP programs were indeed contributing to profitability. One of the first things that Burns looked at was the company's key-control policies. There, he identified some opportunities for improvement. The big-box format at Bob's Discount Furniture was different from the specialty retailers from his past, with additional exposures to loss at receiving docks, a cash office, and a number of other areas to be considered in physical security. At the time of Burns' arrival, thirty-nine locations had opportunities to improve key control and organization of keys and key holders. It was customary to have a locksmith come out to locations that needed lock changes to drill out locks and install new ones. The expenses associated with locksmith call outs were high as can be expected in environments with high employee-turnover rates. Burns, experiencing these challenges before, had an idea for a solution, having partnered with InstaKey in the past. Partnering with InstaKey Burns knew there was a way to spend less on lock changes and improve key control to further reduce exposure to loss. So he contacted InstaKey to see if they had applications that big-box stores could also benefit from. InstaKey worked with the Bob's Discount Furniture team to first get an understanding of Bob's Discount Furniture Blending Lock Manufacturers to Optimize Savings on Lock Changes Patrick Burns Not only does Bob's Discount Furniture benefit from savings on the front end with the combination of lock manufacturers, but also there are the savings on the back end with the restricted keys and rekeyability. Bob's Discount Furniture saves approximately 75 percent with the solution that InstaKey developed. 57 LP MAGAZINE | JULY–AUGUST 2018

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