A new way to do Retail Loss prevention

(28/08/2008)

The current loss prevention systems came over from the United States and replaced the more traditional Security manager about 15 years ago. That loss prevention system has been very effective in producing a new breed of professional retail risk managers changing fundamentally how retailers combat crime in their environments.

But in the same period retailers losses have gone up. The cost of retail loss prevention has gone up 5 fold. Is there a better way? Is it time for another major culture change in the approach to retail loss prevention? With the increasing sophistication of the retail criminal and the lack of support from the police and the government?

Maybe it is time to look at the way that retailers as a whole tackle the problems that face them daily increasing levels of theft and violence. Retailers have been looking after themselves to varying degrees of success and or failure in the face of a common enemy. Retailers have not presented a common face the displacement theory let the thief steal from another retailer not me) has worked well but is no longer successful it merely perpetuates the cycle of Crime. Invest, resolve by displacement and then cut the Loss prevention team.

So what is this new way? The Loss Prevention Company Ltd (TLPC) is a business to business loss prevention service for the retail sector in its widest sense. The objective is provision of effective and efficient field loss prevention management resource that will undertake the full panoply of retail loss prevention functions across multiple retail fascias and company’s for all of the traditional Loss prevention tasks including investigations, training and store compliance auditing. As well as offering day to day expert advice on effective Loss prevention and management of loss prevention vendors Alarm, EAS, Guarding companies.

So what’s different? TLPC believes that by having retailers “pool” their resources through the use of TLPC’s unique and innovative services that there can be a significant reduction in shrinkage and uniquely reduce the costs of controlling shrinkage. This is being achieved through the very effective gathering and analysis of intelligence and pooled targeting of resource. TLPC will reduce retailer costs by up to 20% by the more effective and efficient use of experienced loss prevention field staff without exposing retailers to greater shrink risk. A Win Win "Reduced shrink at a reduced cost"

In addition to "Reduced shrink, Reduced Cost" TLPC will give retailers value added benefits by providing:-
• A truly confidential wider intelligence gathering capability across multiple retailers and high streets, providing state of the art electronic data analysis, leading to the more effective and efficient targeting of criminals. Quickly identifying high risk targeted products and locations. Thereby displacing the criminal completely from retail not from retailer to retailer removing the wider criminal element both internally and externally from the whole retail community.
• Improved and more efficient buying power. The cost effective management of both soft and hard security resources and suppliers. By representing multiple retailers it will give TLPC the ability to monitor whole supply sectors and weed out the ineffective, inefficient and downright bogus suppliers and negotiate with security vendors from a much larger unit base thereby gaining far greater economies of scale.
• Increased influence with the authorities. TLPC will be representing a larger proportion of the high street when dealing with Police, Local and Central government authorities

In retail industry where IT, HR, Distribution and many others previously "sacred cow" functions have been outsourced the last great retail outsourcing opportunity is that of the Loss Prevention. In effect TLPC are seeking to run an absolutely core, but non-essential activity for retailers. Thus making the LP function opaque and seamless to the retailer.

From intelligence gathering through resource allocation to the apprehension, prosecution and recovery processes. The only obvious signs of TLPC’s involvement with the retailer will be their reductions in both shrink and costs for controlling that shrink.

TLPC is lead by Geoffrey Northcott, former head of loss prevention for Borders, Paperchase, & Books etc. Previously holding senior Loss prevention positions across many retail sectors and products. Roles with national and multinational retailers from supermarkets to books. Toys to fashion. 60,000 sq ft to 600 Sq ft. Geoffrey has dealt with all aspects of retail risk management for the past 18 years in the UK, Europe and across the world.

TLPC has started with 2 contracts and is in negotiations with other retailers to provide LP field services which will give it a substantial turnover in year one. TLPC has also been marketed on a one to one basis with a much wider group of high street retailers all of whom have expressed various levels of interest in the scheme. Additionally TLPC is developing a strategic alliances with a leading US based Loss Prevention services outsourcing company. Who have been successfully delivering the outsourced loss prevention model for some 10 years to a number of prestigious retailers in the USA. TLPC strongly believes that the current high street conditions are right for retailers to take the next step in controlling their losses to theft. TLPC’s unique and innovative approach to this issue is that next logical step in the war against retail crime on the high street.

For more details, contact www.tlpc.eu, e-mail geoffrey.northcott@tlpc.eu, Tel +44(0)7803118443.

Related topics:  Security personnel services   Tagging and theft prevention 

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