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 62 of 77

which of these do you think the industry is least prepared for or perhaps not giving enough attention? In other words, are there any areas where you think LP might need to step up its game? BATTERBURY: "Frictionless" is the new retail buzz word, and retailers are striving to create a frictionless shopping experience for every customer. We're seeing the expansion of self-checkout, or the removal of checkouts altogether in some circumstances. Every day we see new methods for allowing customers to shop without any interaction with retail employees. For the loss prevention side of the business a certain amount of friction provides more opportunity to reduce risk. One of our greatest risks moving forward is failing to adapt our people, processes, and technology to this frictionless environment. LP leaders will need to challenge their teams to think differently, being strategic and creative when it comes to addressing the shortage risks in a frictionless environment. REYNOLDS: Criminals are always evolving their methods and LP must continually evolve its approach as well. That's not to say that traditional methods aren't worthwhile, but by themselves they're no longer enough. While it can be challenging to stay on top of the latest technology, it's incumbent on all of us to do just that. I like the concept of using a "layered" approach to security, where multiple technologies work together to increase the likelihood of predicting and deterring criminal activity and apprehending violent criminals. The increase in retail crime also impacts law enforcement, and retailers who are perceived as doing their best to stem this growth will strengthen their relationships with police. Interrupting the crime cycle helps both police and the community as a whole. Less crime and fewer criminals on the street will help create a safer world for everyone. This definitely sends a positive message for retailers and a way to connect with potential customers and employees. BARTOL: I believe the biggest threat is in the realm of cyber security. It's fair to say that most retailers are well aware of the issue and taking the necessary steps to mitigate risk. However, when one considers the number of tools that all business units in retail have that are on the network, it can be a daunting task. By engaging more with IT on strategy and approach, as well as self-education on the basics of technology and cyber security, an LP professional will be better equipped to work in conjunction with their IT counterparts. The key for LP professionals in 2019 will be learning how to harness this data in a way that it will generate actionable intelligence to initiate new theft identification and resolution. 61 LP MAGAZINE | JANUARY–FEBRUARY 2019

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