LP Magazine

MAY-JUN 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/978254

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Page 47 of 76

SECURITY AT THE SOURCE 47 LP MAGAZINE | MAY–JUNE 2018 is supplanting theft prevention—a consequence of the online effect. "In many cases today, that's the whole reason people come into a physical store—it's because they need 'it' now. And if we don't have the product on the shelf, then we have missed the opportunity to meet that customer's immediate need." To fit that objective, he wondered if the next leap forward is a theft deterrent or something more aimed at on-shelf availability. "Cosmetics is a great example. There isn't a fixture for a tube of lipstick, so the solution may be about, first, how do we leverage store team presence to deter theft and then to make sure we're laser-focused on inventory accuracy, so we have product for the customer when they need it. By virtue of that accuracy, we'll also have accurate insights into what we're losing. The loss is undesirable, but if we at least know it occurred, we can get product back on the shelf for the customer, quickly." Inzeo is intrigued by the idea of shelf pads that could automatically identify and count whatever product sits on it, and he is "cautiously optimistic" about blockchain technology. The tracking capabilities that blockchain promises "seems fantastic," but he wondered if it could face hurdles similar to RFID in terms of scalability and implementation. There's no end to the power of the insights retailer data has within it, and Walgreens is constantly exploring new ways to leverage those insights, expose them to their merchant, operations, and LP teams, and drive actions that improve product availability for the customer, according to Inzeo. "From a product standpoint, nothing's more important than making sure we have it when that customer walks into our store. That's why they're there. They need it now." Where, exactly, LP should place its bet is elusive. "We're engaging with merchant teams and working directly with manufacturers. We're at the table with the category manager having those exact conversations—can you put an EAS tag on it, or fund a fixture, or should we be talking about some other funding mechanism to help us with loss?" he asked. But what it all comes down to—and what still seems unclear to Inzeo and many others—is, "If I had a blank check from P&G, what's the next disruptive solution I would spend it on?" GARETT SEIVOLD is a journalist who has covered corporate security for nearly twenty years. He has been recognized for outstanding writing, investigative reporting, and instructional journalism. He has authored dozens of survey-based research reports and best-practice manuals on security-related topics. Seivold can be reached at GarettS@LPportal.com. YOU'RE DOING IT WRONG. You could save up to 80% on a key system by 1-800-316-5397 | www.InstaKey.com Contact us today. IF THIS IS HOW IT FEELS TO CHANGE YOUR LOCKS... Visit us in Booth 720 at

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