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Businesses such as retail stores, gas stations, restaurants, warehouses, and other physical stores are affected by both internal and external threats, which reduce profit.

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Assets can also be damaged by an employee or business owner by accident or out of negligence. It’s important that all employees take care to rotate older items to the front so they are sold before spoiling. Similarly, care must be taken when moving merchandise to not carelessly damage any items, as this can lead to big losses.

What are 5 methods ofloss prevention

As a business owner, some legal charges or claims could make you lose your business assets. Some of the charges may come from an accident, for example, a customer filing a lawsuit against your company for slipping on a wet floor.

AP specialists observe the business premises for noteworthy occurrences that could cause a loss of business assets. They often use cloud-based security technologies to spot unnatural activities going on inside and around the store. They perform technical activities such as analyzing reports and trend thresholds at their assigned location and using radiofrequency identification (RFID) chips to quickly spot theft.

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Loss prevention (LP) is a tactical measure employed by business owners to reduce shrinkage by stopping shoplifters, monitoring employees, and preventing organized retail crime (ORC) invasions that cost businesses money. LP’s primary goal is to avoid the loss of company goods or assets in a physical domain.

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Business owners’ reactions to this development were rapid too, as many now turn to effective loss prevention tools to mitigate their possible losses.

As mentioned above, loss prevention is mostly concerned with reducing visible losses such as theft, while asset protection goes beyond this to think about potential costs to a business more holistically.

Cybercrime is quickly becoming a major cause of loss to brick-and-mortar businesses. With the rapid adoption and integration of digitized technologies in the daily activities of in-stores, some businesses fall prey to cybercrime tactics.

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AP pays attention to every form of asset a business has, which includes cash, raw materials and merchandise, company machines, store interior accessories, employees, and more.

The 2020 National Retail Security Survey reports that in-store businesses experienced a 49.3% increase in fraud in 2020, which amounts to higher rates of loss than online and omnichannel stores. Physical stores are the most vulnerable target for break-ins, shoplifters, and organized retail theft. Hence, they experience higher shrinkage.

Specifications: Video Resolution Modes: 1920x1080p@30fps | 1280x720@60/30fps | 848X480@30/60fps Video Format: .MOV Photo Format: .JPG Image Stabilization: Advanced Electronic Image Stabilization (EIS) Storage Capacity: 32GB/64GB Battery: 3.7v 3200mAH battery Field of View: 140° Night Vision: Auto infrared capable Night Vision Range: Up to 32ft with visible face detection Motion Detection Capable: No Waterproof: Up to 3ft depth Time and Date Stamp: Embedded on every video with user ID Burst Photo: 1, 3, or 5 photos at once Working Temperature: -40°C to 60°C Camera Weight: 4.58oz Camera Dimensions: 3.03x2.2x.87 inches Video Storage: 1080P @ 30fps: 1 Hour = 4.3GB 720P @ 30/60fps: 1 Hour = 3.7GB 480 @ 30/60fps: 1 Hour = 2.3GB Battery Life: 1080p: 7 hours 720p: 8.5 hours 480p: 10 hours IP Rating: IP65 Camera Chipset: Ambarella A7 Compatible with: Windows 7-10. Windows 11 customers please see our FAQ page. (will not work with Apple/MAC computers) Includes: USB cable Wall charger Car USB charger Drop-in charging cradle Metal body clip User manual 1 year manufacturer warranty Select two cameras to compare: DV5-2 DV10 WiFi DV10 Pro MAX EDGE DV5-2 DV10 WiFi DV10 Pro MAX EDGE Iris DV5-2 DV10 WiFi DV10 Pro MAX EDGE IRIS Camera Video Resolution2K2K1080p2K2K2K Night VisionAutoAutoAutoAutoAutoAuto Camera Resolution33MP32MP32MP32MP32MP40MP ChipsetAmbarella A7Ambarella A7Ambarella A12AITAmbarella H22Ambarella A12 FOV170°140°140°140°140°140° Battery Battery Life6 hours10 hours12 hours14 hours18 hours8 hours Removable BatteryYesNoNoNoNoYes Charging DockYes + dataYes +dataYes + dataYes + dataYes + dataYes + data Charge Time200 minutes180 minutes240 minutes250 minutes4 Hours5.5 hours Capacity1950mAh3200mAH3200mAH3200mAh3200mAH2200mAH Storage Storage Max64GB*64GB64GB64GB64GB128GB File Format.MOV.MOV.MP4.MOV.MP4.MP4 TypeInternalInternalInternalInternalInternalInternal Functions Pre/post event recordingYesYesYesYesYesYes Pre-record time60 seconds60 seconds120 seconds30 seconds75 seconds120 seconds One touch recordingYesYesYesYesYesYes Motion DetectionYesYesNoYesYesN/A GPSYesNoYesYesYesYes WiFiYes (optional)*YesYesNoNoYes StreamingNoNoYes (via WiFi)NoNoNo Loop RecordingYesYes(optional firmware)YesYesNoYes Password ProtectionYesYesYesYesYesYes Video CompressionH.264H.264H.264H.264H.265H.265 Body Weather ResistanceIP57IP68IP67IP66IP65IP65 External Camera SupportYesYes (optional)*YesNoYesYes (optional)* USBYes (mini-B)NoYes (type C)YesYes (mini-B)Yes (Type-C) HDMIYes (mini)NoNoNoNoNo Extension portYes (PTT)NoNoNoNoNo LCD screenYesNoNoYesYesYes Weight (ounces)5.754.585.65.644.94.58 Dimensions (inches)3.31x2.40x1.223.03x2.20x0.873.1x2.20x0.933.1x2.20x13.1x2.20x13.26x2.24x1 Support Warranty1 year1 year1 year1 year1 Year1 Year Video Storage 1080P@30fps1 hour = 5GB1 hour = 4.3GB1 Hour = 5.6GB1 Hour = 3.6GB1 Hour = 2.6GB1 Hour = 5.6GB 720P@30fps1 hour = 3.6GB1 hour = 3.7GB1 Hour = 3.6GB1 Hour = 3.6GB1 Hour = 1.8GB1 Hour = 3.6GB 480P@30/60fps1 hour = 2.1GB1 hour = 2.3GB1 Hour = 1.8GB1 Hour = 2.7GB1 Hour = 1GB1 Hour = 1.8GB * special order only

While there are differences between asset protection and loss prevention, AP and LP are both risk management strategies used by physical stores to reduce inventory shrinkage and other forms of loss. Both AP and LP require security cameras and other security equipment to remotely monitor the in-store environment and patrol around buildings in person. Lastly, both AP and LP combat factors that cause asset loss/claims and reduce profit.

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This article dives into the key differences between loss prevention and asset protection, highlighting how each approach contributes uniquely to the overall security and efficiency of your business. Stay tuned to unravel these concepts and determine which strategy best fits your organizational needs.

Supplier fraud, although not common, is still worth mentioning. This is when a business supplier acts in an unethical way to get paid for items that are not delivered. This often happens when there is no supervisor overseeing the delivery process of the supplies to the business. Having two people check every shipping manifest is a great loss prevention tip.

Drop proof up to 10 feet and waterproof up to 3 feet! Specifications: Video Resolution Modes: 1920x1080p@30fps | 1280x720@60/30fps | 848X480@30/60fps Video Format: .MOV Photo Format: .JPG Image Stabilization: Advanced Electronic Image Stabilization (EIS) Storage Capacity: 32GB/64GB Battery: 3.7v 3200mAH battery Field of View: 140° Night Vision: Auto infrared capable Night Vision Range: Up to 32ft with visible face detection Motion Detection Capable: No Waterproof: Up to 3ft depth Time and Date Stamp: Embedded on every video with user ID Burst Photo: 1, 3, or 5 photos at once Working Temperature: -40°C to 60°C Camera Weight: 4.58oz Camera Dimensions: 3.03x2.2x.87 inches Video Storage: 1080P @ 30fps: 1 Hour = 4.3GB 720P @ 30/60fps: 1 Hour = 3.7GB 480 @ 30/60fps: 1 Hour = 2.3GB Battery Life: 1080p: 7 hours 720p: 8.5 hours 480p: 10 hours IP Rating: IP65 Camera Chipset: Ambarella A7 Compatible with: Windows 7-10. Windows 11 customers please see our FAQ page. (will not work with Apple/MAC computers) Includes: USB cable Wall charger Car USB charger Drop-in charging cradle Metal body clip User manual 1 year manufacturer warranty Select two cameras to compare: DV5-2 DV10 WiFi DV10 Pro MAX EDGE DV5-2 DV10 WiFi DV10 Pro MAX EDGE Iris DV5-2 DV10 WiFi DV10 Pro MAX EDGE IRIS Camera Video Resolution2K2K1080p2K2K2K Night VisionAutoAutoAutoAutoAutoAuto Camera Resolution33MP32MP32MP32MP32MP40MP ChipsetAmbarella A7Ambarella A7Ambarella A12AITAmbarella H22Ambarella A12 FOV170°140°140°140°140°140° Battery Battery Life6 hours10 hours12 hours14 hours18 hours8 hours Removable BatteryYesNoNoNoNoYes Charging DockYes + dataYes +dataYes + dataYes + dataYes + dataYes + data Charge Time200 minutes180 minutes240 minutes250 minutes4 Hours5.5 hours Capacity1950mAh3200mAH3200mAH3200mAh3200mAH2200mAH Storage Storage Max64GB*64GB64GB64GB64GB128GB File Format.MOV.MOV.MP4.MOV.MP4.MP4 TypeInternalInternalInternalInternalInternalInternal Functions Pre/post event recordingYesYesYesYesYesYes Pre-record time60 seconds60 seconds120 seconds30 seconds75 seconds120 seconds One touch recordingYesYesYesYesYesYes Motion DetectionYesYesNoYesYesN/A GPSYesNoYesYesYesYes WiFiYes (optional)*YesYesNoNoYes StreamingNoNoYes (via WiFi)NoNoNo Loop RecordingYesYes(optional firmware)YesYesNoYes Password ProtectionYesYesYesYesYesYes Video CompressionH.264H.264H.264H.264H.265H.265 Body Weather ResistanceIP57IP68IP67IP66IP65IP65 External Camera SupportYesYes (optional)*YesNoYesYes (optional)* USBYes (mini-B)NoYes (type C)YesYes (mini-B)Yes (Type-C) HDMIYes (mini)NoNoNoNoNo Extension portYes (PTT)NoNoNoNoNo LCD screenYesNoNoYesYesYes Weight (ounces)5.754.585.65.644.94.58 Dimensions (inches)3.31x2.40x1.223.03x2.20x0.873.1x2.20x0.933.1x2.20x13.1x2.20x13.26x2.24x1 Support Warranty1 year1 year1 year1 year1 Year1 Year Video Storage 1080P@30fps1 hour = 5GB1 hour = 4.3GB1 Hour = 5.6GB1 Hour = 3.6GB1 Hour = 2.6GB1 Hour = 5.6GB 720P@30fps1 hour = 3.6GB1 hour = 3.7GB1 Hour = 3.6GB1 Hour = 3.6GB1 Hour = 1.8GB1 Hour = 3.6GB 480P@30/60fps1 hour = 2.1GB1 hour = 2.3GB1 Hour = 1.8GB1 Hour = 2.7GB1 Hour = 1GB1 Hour = 1.8GB * special order only

Asset protection (AP) includes all measures, strategies, and techniques used by a business to protect its assets from employee theft, shoplifters, and any unforeseen conditions that could have legal claims to the company’s assets, intending to deter loss. This last part is what separates AP from LP.

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The National Retail Foundation reveals that, in 2021, retail shrinkage was at an all-time high. A shocking $94.5 billion dollars was swallowed up by retail losses.

As mentioned, the difference is in the scope. Asset protection covers a broader set of strategies than loss prevention. AP—often used by big enterprises—is a risk management strategy used for shielding an organization from internal and external theft, protecting the business interests, and deterring litigation and liability claims from customers and employees. Meanwhile, loss prevention—a term often used by smaller businesses—involves the use of technology and processes to avert inventory shrinkage due to shoplifting and employee theft.

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An AP specialist also has to train employees to spot theft, patrol the store, and give detailed reports to law enforcement personnel when needed.

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An AP specialist also has to train employees to spot theft, patrol the store, and give detailed reports to law enforcement personnel when needed.

Understanding the distinct roles of loss prevention and asset protection is crucial for any business aiming to safeguard its resources. While both strategies are essential for minimizing risks and enhancing security, they cater to different aspects of business protection.

AP pays attention to every form of asset a business has, which includes cash, raw materials and merchandise, company machines, store interior accessories, employees, and more.

Asset protection takes a broader role beyond preventing shoplifters, employee theft, or ORC from causing shrink in a retail store.

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While in standby mode or turned off, simply press the record button on the camera to start recording. LED indicators and audio alerts will notify you when recording has started or stopped. These alerts can also be disabled if you need to be more discrete.

Organized retail crime (ORC) is on the rise. ORC consists of major crime incidents perpetrated by criminal organizations, such as strategic attacks, shoplifting raids, or break-ins. ORC groups move from town to town conducting these operations. It is a costly cause of loss to a business because they often obtain highly expensive goods to resell at flea markets or auction houses. They are also likely to damage your remaining property with careless attacks, unlike individual shoplifters who prefer stealth.

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Operational errors occur when employees fail to follow laid down protocols and rules for preventing losses to the business, as well as safety measures to avoid hazardous conditions.

Protecting people is a second major distinction between asset protection vs. loss prevention. Mitigating and preventing violence is an important part of asset protection because it also reduces the potential for legal liability.

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With the ability to record in crystal clear 1296p video, this camera's wide angle view will record every detail. WDR (wide dynamic range) will optimize the quality & increase the level of detail in both bright and dark areas.

Asset protection and loss prevention are similar programs with different scopes. AP/LP are the use of strategies, technologies, and professionals to forestall inventory shrinkage, avoid damages, and mitigate liabilities in a business.

What are the common causes of inventory shrink and loss in retail stores? While shoplifting might come to your mind first, it isn’t the main cause of shrinkage in physical stores. Factors like employee theft and organized retail crime (ORC) are right at the top of the list.

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Healthy and safety violations, customer injuries, and violent events all have the potential to cost a company money. In fact, a single liability claim could be more expensive than an entire year’s worth of theft events.

Even if loss prevention is often seen as a shield against external factors like shoplifting, break-ins, and organized retail crime (ORC), employee theft is still the dominant cause of business shrinkage. Your employees may commit fraudulent activities from ignorance, negligence, or with full intention. Remember, employee theft can include theft of cash or merchandise, as well as more deceptive tactics such as discount abuse.

AP focuses on protecting every asset on the store premises. Meanwhile, loss prevention’s sole aim is to spot and prevent every source of inventory shrinkage in a business.

AP/LP professionals employ various strategies to reduce shrinkage in their business, especially brick-and-mortar retail enterprises.

Solink is built with AP/LP professionals in mind. We have the tools you need to excel in your profession. Motion and event searches let you see videos of high-risk situations, from people where they shouldn’t be to voids, no sales, and cash returns at the POS.

The difference between asset protection and loss prevention is the scope of work they perform for a business, but oftentimes, people use the term AP/LP to mean the same thing.