Understanding differences in security and loss prevention

As a loss prevention professional I run into retailers and business owners on a regular basis who get a little confused about the differences between security and loss prevention.  These two areas work together and are typically different systems, and sometimes are the same thing.

Wiki defines loss prevention this way: “loss prevention (in some retailers known as asset protection) is a form of private investigation into larceny theft. The focus of such investigations generally includes shoplifting,package pilferage,embezzlement, credit fraud and check fraud. “Loss prevention” or “LP” is used to describe a number of methods used to reduce the amount of all losses and shrinkage often related to retail trade.

Usually when I introduce myself to a retailer they say “we have a security system”.  See the disconnect in the wiki definition and the response?  Security personnel or burglar alarms are tools used in a loss prevention plan to accomplish the goal of preventing theft.  You could say that these tools are the tactical side and the program is the strategic side.

Left alone with no one actively using these tactical tools, like a camera system, results are often minimal at best.  Camera systems do not deter amateur thieves because they know no one is constantly watching them, if they are even turned on.  Burglar alarms are not armed during business hours when shoplifters are active.  Employees know the systems from the inside and known how to defeat them.

Consider consulting a loss prevention security professional to get an assesment of your current situation and recommendations of how to position yourself to prevent theft both internal and external.

For more information visit:  security and loss prevention