New, Cutting-Edge Loss Prevention Technologies
Loss Prevention (LP) managers have a greater variety of technologies at their fingertips than ever in the prevention, mitigation, and recovery of lost corporate and commercial assets. Greater reporting capabilities, as well as a host of tools for alerting have reduced thefts in all areas from retail to warehousing, to transportation and logistics. One relatively new entrant in the field, GPS asset tracking, now offers even greater value to managers looking to prevent shrink and recover lost assets.
The adoption of world-wide cellular connectivity has revolutionized GPS tracking, transforming it from something agent 007 would perform, into an economical and cost effective tool for business optimization.
GPS trackers that previously required the user to recover the device and manually download the tracking information onto a computer, now transmit data wirelessly to a web interface, allowing Loss Prevention specialists to monitor and recover goods that have been lost regardless of their position on the Earth. Technology did not stop a wireless transition however. These technologies are empowering Loss Prevention personnel to succeed at a greater rate – and to recuperate lost or stolen assets which would otherwise remain lost:
Removal Detection – A common feature of tracking devices for loss prevention, removal detection sends instant notification to personnel if an asset is removed from its location or if a container, crate, or box is opened. Instantaneous alerts via SMS text and email empower LP professionals to act sooner rather than later.
Asset Geofencing – With geofencing, LP personnel can receive instant notification if an asset or shipment exits or enters a specified region. Using this technology, a LP team can fully customize geographic areas of regions in which assets should remain. If the asset is removed from that region, an alert is instantly sent out, notifying all relevant personnel.
Ongoing Real Time GPS Tracking – Once an asset is stolen or lost, recovery can become very difficult or impossible without some kind of location information. With updated location and status information readily available in a web portal interface, responders such as the police can quickly and easily find the lost assets and recover them with minimal lost time and wasted resources.
Tracking technologies offer a wealth of possibilities to Loss Prevention professionals. Lower frequency of thefts, faster, and more effective loss recovery, and instant notifications offer the chance to optimize any LP plan and achieve winning shrink rates.