LP Magazine

JAN-FEB 2019

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.

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BUMPS IN THE ROAD Proven innovaƟons that protect your profts. Made with the strongest clear recyclable polycarbonate and secured with the S3 ™ locking system, Keepers ® are one of the most versaƟle and secure soluƟons for high-theŌ merchandise. • Proudly manufactured in the U.S. • Over 70 diferent sizes Visit AlphaWorld.com to find more Alpha soluƟons for high-theŌ challenges. Alpha. First. 45 LP MAGAZINE | JANUARY–FEBRUARY 2019 supply chain loss, or not infrequently, it has willingly turned a blind eye to the risk. "We'll sometimes have to educate LP on their own [supply chain] processes because they've been excluded from a seat at the table by their own camps," said Master. "And it blows me away that, even at the VP LP level, I'll find myself having conversations with executives that show they don't know their own processes because they are so exclusively focused on brick-and-mortar." Master's advice is simple. "Get engaged," he said. "Honestly, engagement is everything." On that front, he's observed some encouraging signals. Over the last two years, as e-commerce has continued to grow, he says LP executives have become more involved in conversations around loss and risk in the supply chain, and some retailers have started to allocate more manpower to address the challenge. The nature of engagement will naturally depend on where the supply chain hits a retailer's business. For one retailer without an e-commerce component, focus has been on ensuring that the 3PLs it does business with are up to the challenge. "Our goal is to have good, strong agreements in place with third parties," explained the retailer's top supply chain LP executive. "We devised a document that spells out our company's transportation security requirements that you have to meet to do business with us." On a monthly basis, they conduct an audit of providers to assess compliance and hold them strictly accountable. "We're giving the 3PLs the security answers. There is zero reason they should fail these audits," he explained. Auditing also plays an important role for 7-Eleven, to ensure the quality and integrity of deliveries by 3PLs While cargo-theft data overall seems to suggest that shipments are growing safer, experts insist that loss prevention practitioners need to stay consistently engaged as obstacles and opportunities cause cargo thieves to shift tactics.

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