LP Magazine

JUL-AUG 2014

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/352439

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Page 35 of 68

into their content. That would be the next step. Medical school content is evidence-based, and so should LP training content. Also, I feel that we haven't arrived until we are sitting and talking to the CEOs, CFOs, and COOs at the NRF Big Show, for example. We will have arrived when the CEOs are expecting that their key LP decision makers are adopting evidence-based content and that level of expertise is required. EDITOR: You don't think we are there yet? HAYES: We are certainly making strides and some retailers are further along than others. Recently I was at a corporate office with their esteemed SVP of LP and his team. The COO comes into the room, as part of their amazing strategy session. The COO starts off saying, "Last year we did great. Here are the numbers. This year we're on track to do this well. But with all the cost pressures, here are the three things we've got to do to maintain where we are—not to keep growing, but just to maintain." He then says, "Look, here's what loss prevention needs to do to help me meet this objective, to meet this one…" and so forth. Here we have a C-level executive saying in a very intricate way exactly how strategic LP is. It's not a peripheral issue. He is not just checking a box. He's saying we're going to have these key objectives, and this is how LP can structure and work the process to support these things that are absolutely paramount to what we're trying to accomplish. It was incredible because that's where we're all trying to go. LP more than matters, it is critical to successful retailing. We're still collectively losing billions of dollars a year as an industry, and while some individual companies are making progress, overall, not so much. That's why the LPRC and the UF team were started by retailers. We can go in and start to narrow down the issues by listening to retail experts and other employees, going into their stores and DCs, innovating with them, and moving things around to determine how we can make improvements. 35 LP MAGAZINE | JULY - AUGUST 2014 INTERVIEW

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