Today, loss prevention is the business of profit optimization, but for many years, loss prevention wasn’t loss prevention at all. Loosely translated, loss prevention meant wait for a bad shrink loss report or a theft, and go investigate to determine what caused that particular loss. That’s not loss prevention. That’s loss catching or loss investigating.
Loss prevention only really occurs when loss is prevented before it happens by implementing programs, practices, and technologies that measurably affect the behaviors of people who, through their activities, cause shrink. This level of leadership requires a new way of thinking about loss prevention.