LP Magazine

MAY-JUN 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/1121134

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Page 44 of 84

THE NEW GENERATION OF LOSS PREVENTION 44 MAY–JUNE 2019 | LOSSPREVENTIONMEDIA.COM T he retail landscape is changing every day, with new ways to shop, pay for goods, interact with customers, and deliver commodities to the consumer. We have innovative items for sale that are changing the world we live in, creative services that can deliver to your car door or your front door, and amazing technology that allows us to scan and purchase merchandise with a phone and a fingertip. With every revelation comes new opportunities for growth and invention—and new challenges for the new generation of loss prevention/asset protection. The evolution of loss prevention is an ongoing and important topic that draws considerable attention across the profession. As has become the norm throughout the industry, a proactive approach rather than a reactive response has become the method of choice in our ongoing quest for a seat at the table and a voice in the room. We are looking to the future and exploring the many ways that our role may change to meet the emphatic needs of a transforming business. However, as we look to the future, we can't overshadow the importance of where we are today. The fact is, we are deep into a new generation of loss prevention. Our role in the field, our place in the business, and our seat at the table have all progressed well beyond the responsibilities and expectations that were conventional prior to the new millennium. Our commitment to growth and dedication to collaboration and partnership have offered a new perspective of our significance within the retail landscape. We are entering a new chapter as a profession and with the dynamic changes that are currently taking place across the retail industry, loss prevention professionals must have a shared mission and vision as we drive forward. But as we take our next steps, when considering the many important subjects that need our attention and support, are we on the same page? Are the policies and objectives defined at the corporate level the same messages being implemented in the field? Do we see critical subjects under the same light? Do we agree on what's most important? How should that influence our decision-making? This year LP Magazine, the Loss Prevention Foundation, and leaders from across the loss prevention industry have come together to explore just how the loss prevention community perceives key subjects facing the profession today, and whether we share a commontheme across all levels of leadership. The 2019 Survey As the industry has evolved, doors have opened to reveal a new and exciting culture. Today's loss prevention professional is expected to be multidimensional, open-minded, global-thinking, enterprising, and intelligent, serving as an integral component of the retail world and part of the foundation for a successful business plan. The retail enterprise understands and respects the importance of protecting a company's assets against the challenges of total retail loss. This has encouraged a new and improved retail industry where effective loss prevention strategies are viewed as an integral part of a successful business model. While tremendous strides have been made, we must maintain our focus and attention on every aspect of what we do. Asset protection is not a singular function but a binding objective that is a key aspect of profit enhancement. As part of a global retail culture, this way of thinking must be shared across the loss prevention community and supported by company leadership. There will always be things to work on. There will always be different approaches and opinions on how things should be done or what priorities should come first. But when it comes down to it, loss prevention professionals at all levels of leadership should have a fundamental agreement—or at least an understanding—of what we do, where we are, and where we're going. Relatively speaking, if we're not on the same page, it makes it much more difficult to move forward. The goal of the 2019 survey is to provide an objective window into the thoughts, ideas, and opinions of loss prevention professionals at all levels of leadership regarding these key areas and open doors for additional discussion. By gaining a more comprehensive understanding of how loss prevention professionals collectively and independently perceive these important questions—and whether we see these issues in the same light—perhaps we can spark fresh thoughts and ideas on the best ways to move forward and how we can best address these topics to further enhance our loss prevention teams. The Question-Writing Process The survey itself was constructed by leaders across the loss prevention industry to provide a list of questions that they felt represented important and productive topics relevant to the ongoing goals and objectives of the loss prevention profession. Leaders representing many different types of retail backgrounds and a diverse scope of retail organizations were involved in the development process. Several of these leaders further encouraged key members of their teams to participate in the process as well, resulting in a wide spectrum of topics. For practical purposes this was then narrowed to a pool of fifty-five questions, with the final product submitted to these leaders for additional feedback prior to distribution. All of the those participating in the question-writing process have remained anonymous. Survey Distribution Invitations to participate in the survey were extended through mailing lists, extensive social media outlets, and LP Magazine's LP Insider. Industry leaders representing retailers across the country were also contacted directly and encouraged to share the survey with all members of their loss prevention teams. Participation was encouraged for all those involved in the loss prevention and asset protection profession and those in roles directly related to the profession. All participants were informed that their participation would remain anonymous to further encourage honest, open, and complete responses. While department store and specialty retailers were most common, respondents with retailers across the industry were widely represented.

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