Telaid is kicking off 2018 as a fully engaged member of the Loss Prevention Research Council (LPRC). We attended the Winter Meeting in New York City last week, where we sat down with retailers, vendors and researchers to discuss some of the most vexing LP/AP challenges and brainstorm opportunities to advance loss prevention security solutions.
The pressure is mounting on LP professionals to expand their role to both combat emerging challenges related to asset protection and collaborate on non-security issues related to the business. As a result, LP teams are grasping for tools, insights and best practices to progress along the learning curve with greater speed and agility. This trend is forging a strong, highly collaborative LP community within the LPRC.
LPRC is currently focused on three “innovation chains.” These are areas of focus where LPRC members are partnering to configure, pilot and track solutions and best practices to combat key challenges for retailers.
1. Product sales and loss prevention security solutions improve using RFID and other behavioral signatures
The idea is to combine data from RFID, video and other IoT sensors to more effectively create forensic detection of customers activity that may be related to loss. This is the holy grail of integration, leveraging multiple data sources to create a complete “picture” of activity within the supply chain and stores. Effectively implemented, this could allow for truly proactive preventative measures as well as investigation activity that breaks new ground.
2. Armed robbery and parking lot violence reduction
The customer’s experience with the retail brand begins before they even walk in the store. Unfortunately, parking lots and outdoor areas have become places for crime to occur. Leveraging tactics and technology to better secure, prevent and detect criminal activity in outdoor areas could greatly reduce risk, cost and brand damage for retailers.
3. Corporate command and control using a security operations center (SOCLab)
Timely response requires effective communication of the right information to the right people as soon as possible. The Command and Control iChain will focus on improving retailers’ emergency response with the goal of minimizing asset loss, ensuring brand integrity, reducing injury, and loss of life. This is not as simple as generating auto-alerts when events are reported. The volume of reports originating from social media in real-time includes both legitimate and untrue incidents. As a result, systems must be able to verify the accuracy of reports using AI and escalate those that require further investigation and/or attention. This must all occur in a timely manner in a process that is manageable by LP professionals who are also dealing with their other responsibilities
As Telaid partners with other LPRC members to pioneer best practices in these areas, we are on the cutting-edge of helping innovating loss prevention security solutions to tackle these LP/AP problems. We look forward to this process and to being part of the solution.