Retailers are always searching for technology to mitigate theft and fraud. But, retailers aren’t looking for just any technology. They’re looking for innovative, cutting-edge technology that will address the challenges that lay ahead.
For good reason, retailers have come to rely on solution providers with proven track records in the industry. Today, retailers have at their disposal effective technology solutions to help stem the tide of retail theft. However, despite the industry’s best efforts and the investment of billions of dollars, theft and fraud continue to wreak havoc on the retail industry and impact retailers’ bottom lines.
In response to the growing problem of theft and fraud, retailers are challenging their vendor partners to think outside the box; to design new, never-seen-before technology to address retailers’ short and long term concerns. Additionally, retailers have begun to look outside the industry for help; non-traditional suppliers, government agencies, research institutions, think tanks and academia are largely untapped resources that could help facilitate the advancement of theft deterrent technology.
One challenge faced by solution providers is the need to invest significant capital to adjust equipment designs and capabilities to meet the unique needs of individual customers. Never before has the retail community identified the innovations in theft-deterrent technology that are of the highest priority. Until now!
The Retail Industry Leaders Association (RILA) is excited to announce the release of RILA’s Retail Loss Prevention Technology Priorities Document (TPD).
The spirit of the TPD is to encourage collaboration across industries and to stimulate innovation for the mutual benefit of the retail LP industry and the solution providers who offer cutting-edge solutions to problems retailers face in the future. RILA’s Horizons Committee, comprised of LP technology experts from among RILA’s retailer members, is helping drive the TPD initiative. The retailers that comprise the Horizons Committee operate nearly 54,000 retail locations worldwide.
The TPD is a compilation of preferred technology functionalities for some theft deterrent solutions that retailers believe can advance with innovation: benefit denial, case management, incident reporting, relationship and analysis trends and more. The technology functionalities do not impose minimum standards on solution providers but instead reflect the priorities of retailers represented on the Horizons Committee.
The TPD is not intended to be an exhaustive list of theft deterrent technology that is ripe for innovation. Indeed, retailers are eager to hear about advancements to existing theft deterrent solutions not included in the TPD, never-seen-before technology and technology to address loss prevention risks inherent in emerging business trends.
Interested solution providers are encouraged to review the TPD along with the FAQ describing it for help in completing the Request for Information (RFI). RILA will remove company names from the RFI submissions and circulate to the Horizons Committee for its review. On a monthly basis, the committee will consider the blind RFIs to identify those from which the majority would like to receive additional information. Companies so selected will be invited to provide additional information to RILA and the Horizons Committee. After providing a forum for the presentation of the follow up information, RILA’s role and the Horizons Committee’s role ends and individual retailers are free to follow up with the companies that provided additional information or those companies from which the group opted not to receive additional information.
Read the TPD and supporting documents under the tabs on this site. RFIs may be completed through the 'RFI' tab located at the top of the webpage. Because there is a sense of urgency around the need for innovation, we would like to receive submissions by September 14, 2012; however, we will accept submissions on an ongoing basis after that date.
Thank you for all you do on behalf of the retail industry. Together, we can continue to drive innovation and win the battle against theft and fraud.
Lisa LaBruno, Esq.
Vice President, Loss Prevention & Legal Affairs