RILA Loss Prevention Show

The Retail Industry Leaders Association’s Loss Prevention, Auditing, and Safety Conference will be held this year from April 11-14th at the Gaylord Palms Resort and Convention Center in Orlando, FL. I’ve had the opportunity to participate in this event over the last several years and have always walked away with lots of new ideas and insights as a result. This year’s agenda is loaded with some great sessions and I will be highlighting a few of them over the next several weeks to give you some ideas about why you should be there next month.

On Thursday, April 14th, there is going to be a great opportunity to hear from some of the leading Loss Prevention executives in the industry about the challenges they are facing, the issues that keep them up at night, and how their strategies are evolving and changing with the needs of their businesses and the economic context of the last few years. Joining Lisa LaBruno, Vice-President of Loss Prevention and Legal Affairs for RILA, will be:

  • Monica Mullins – Vice-President of Asset Protection & Safety for Wal-mart Stores
  • Mike Lamb – Vice-President of Asset Protection for The Home Depot
  • Paul Stone – Vice-President of Asset Protection for Best Buy

This is a great line-up of seasoned veterans who run the AP efforts at some of the most successful organizations in the industry. There will also be an opportunity to ask them questions that are on your mind and get their input to help you inform your own thought process. In fact, at the end of this post, I will give you a link to submit questions in advance to be incorporated into the session.

I’ve had a chance to talk with each of the panelists this week and get some insights into what is on their minds for this session. There were three themes that emerged from these conversations. First, everyone talked about the challenge of attracting and developing great talent for their Asset Protection group. In an environment where everyone is doing “more with less,” the need for outstanding individuals is obvious but the other challenge I heard from them was how to dedicate time on everyone’s busy schedules to make sure managers are spending time on development and not putting it behind other, pressing issues. These panelists will share how they are able to prioritize this issue despite the pace of the business that only gets faster.

Second, the panelists talked about the need to constantly recalibrate and examine their own strategies for their departments and how they must change over time based on needs of the organization, budgetary considerations, and results. How broad of a role should AP/LP play in operational issues, safety, merchandising, and risk management? Does expanding the role of your team create a risk of taking the focus off of shrinkage results and “core” responsibilities such as investigations, physical security, and operational controls? I know from conversations with executives from across the industry that this is a top-of-mind issue for many, so this session will help inform your thinking on how you approach this for your company.

Third, everyone talked about the need for developing strong business cases and return on investment models for their programs and proposals. While others may think that budget dollars flow more easily in large organizations represented by the panelists, they can assure that they do not. Like almost every loss prevention executive I know, each of them stressed the importance of this issue and several talked about how it has led them to look for fewer “cookie cutter” approaches and more individualized strategies by region, district, and store.

Those three themes alone would make for a compelling reason to attend, but the most anticipated part of this session will be the opportunity to present questions to the panel that are on your mind and have them respond. If you have a question or issue you would like to see addressed, please email kylee.coffman@rila.org. Thanks for your input and I look forward to seeing you in Orlando!

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