LP Magazine

MAR-APR 2018

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/955857

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Page 54 of 76

the guidance of a reliable source and a credible platform." Some of the most compelling work by the APLC is the result of a robust research agenda. Over the past three years, the APLC has teamed up with renowned academic researchers to study emerging and pressing challenges facing AP organizations. Recent projects include the following four topics. Total Retail Loss. In partnership with Professor Adrian Beck of the University of Leicester in the United Kingdom, this research looks at how the retail industry understands the nature and extent of all the potential types of retail losses while developing a new definition of loss that's a better fit for the contemporary retail landscape. This groundbreaking model is intended to help better understand the impact of current and future retail risks while making more informed choices about the utilization of increasingly scarce resources. For asset protection professionals, it provides a unique opportunity to build upon the critical role they can play in becoming true agents of change within the retail setting. Opportunities and Challenges for Engaging Merchants in the Protection of Retail Assets. Overall, tremendous opportunity exists to improve merchant engagement in asset protection. In cooperation with the University of Chicago Booth School of Business, this project highlights successful initiatives by various retailers to engage retail buyers and improve cooperative efforts between asset protection teams and merchant groups. By providing clear guidance to help ensure retail merchants are educated regarding their role in shrink prevention, we can garner the commitment and attention necessary to work collectively and improve performance. Mobile Point-of-Sale and Loss Prevention. In cooperation with the University of Arkansas, this study on mobile technology in the retail store brings together the industry's leading retailers, consumer product manufacturers, and solution providers to examine the potential risks of technological innovation and explore possible methods for mitigating risk. The study assesses the technological capabilities, retail store attributes, and customer attitudes and beliefs with respect to mobile point-of-sale, as well as precisely how the mobile innovation disrupts the transaction processes around which loss prevention is currently designed. Self-Scan Technologies. In collaboration with the ECR Community Shrinkage and On-shelf Availability in Europe, the APLC kicked off the new year by once again partnering with Professor Beck to examine the impact of self-scan technologies on retail losses. Building upon Beck's previous work on the topic and the APLC's collaboration with the University of Arkansas, the research aims to help current and future self-scan users to better understand what these risks are and how they can be best managed moving forward to ensure they play a positive role in profit enhancement and an enjoyable experience for retail consumers. This research will further help retailers understand how the risks posed by self-scan systems can vary by type of system while offering a clearer understanding of how this might impact retail loss. Similar Issues, Different Perspectives For many years the loss prevention and asset protection community has benefitted from the outstanding work provided by the Loss Prevention Research Council (LPRC), which has conducted more than 120 real-world loss prevention research projects for retailers and our retail business partners. While both provide valuable information to the industry and may take on similar subjects, the APLC uses different methods and approaches the issues from a different perspective. "I'm active in both the APLC and the LPRC programs, and both are tremendous operations," said Jaeckle. "They are both trying to solve critical shrink problems with the way that they're approaching these issues, but it isn't competitive. This is why I think you see a lot of companies participating in both. They're both tremendous organizations that are just looking at issues from a different perspective." The objectives of the APLC are defined based on the thoughts and needs of the individual retail leaders. There's discussion amongst the individual leaders regarding the different topics, with decisions made based upon a collective approach to the subject at hand. For example, approximately fifty asset protection pyramid heads RILA'S ASSET PROTECTION LEADERS COUNCIL Over the course of several months leading up to the Nashville meeting, RILA's (R)Tech AP Working Group vetted start-up companies to identify game-changing technology they wanted to know more about. The top five were given the unprecedented opportunity to pitch their technology to several "sharks" (AP leaders) and the broader audience. 54 MARCH–APRIL 2018 | LOSSPREVENTIONMEDIA.COM

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