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.

Issue link: http://digital.lpportal.com/i/1078914

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Page 48 of 77

BUMPS IN THE ROAD 47 LP MAGAZINE | JANUARY–FEBRUARY 2019 about the elimination of millions of trucking jobs—the expectation is that self-driving trucks will be crisscrossing the US in a decade's time. For LP professionals broadly, Smith thinks executives will need to continue the trend of involving themselves in supply chain issues and to work more closely with their operations team on identifying how LP can better support their companies as they navigate the e-commerce revolution. That very issue is a focus of the upcoming ISCPO annual conference in Irving, Texas, March 6–7, 2019. For retail companies, it's important to bring more internal members to the table, "so we can look for ways to improve our processes year after year and to take advantage of LP's particular expertise," Smith said. LP's external relationships also play a key role in meeting retail's evolving supply chain challenges, according to experts. For example, Glenn Master and Byron Smith both noted the importance of using analytics to monitor loss trends and sharing data with logistics providers, such as an escalating number of consumer complaints in a select zip code. The more transparent the relationship, the more readily a provider can remedy emerging loss issues that pose a risk to a retailer's business. Another LP executive said it's important to have good investigative partners you can call upon and suggested engagement with regional cargo-security councils to stay informed on risks and solutions. "It's important to be able to learn from one another, to see how thieves are slipping seals and otherwise creatively compromising shipments these days, and to have people you trust that you can call if you see something you need more information about," he said. Agent Steve Covey noted that communication with law enforcement has room to improve, suggesting that retail organizations need to combine robust physical security with enhanced outreach to law enforcement units that work on cargo theft. "Cargo thieves and ORC gangs have fencing operations in common," he said. "So that's something retailers can get with law enforcement about." Sergeant Peter Lee also sees communication with law enforcement as an important theft-prevention tool. "Direct communication with cargo-theft investigators result in quicker investigative response," he said. The importance of supply chain integrity is reflected widely. It can be seen in surveys that show consumer purchase decisions are increasingly swayed by issues such as seamless shipping, delivery, and returns. International Data Corporation predicts that more than 50 percent of consumers will name fulfillment execution as the top reason for loyalty by 2020. It's clear, too, in the emergence of fulfillment as the top area of investment among retailers, which now allocates 29 percent of capital expenditures on transportation and logistics, delivery options, order management, and inventory visibility and returns, according to the Walker Sands' Future of Retail Report. And it's starting to be visible in the LP domain, as retailers and their LP leaders look to bring the success they've achieved in their upstream logistics downstream to consumers. YOU'RE DOING IT WRONG. You could save up to 80% on an easier, more secure, better organized key system by Curious about ROI with InstaKey? Download the latest research study by the LPRC to learn more! IF THIS IS HOW IT FEELS TO CHANGE YOUR LOCKS... www.InstaKey.com

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