5 minute read
PARTING WORDS
Sitting Over Coffee One Morning
Recently I was sitting having coffee with three industry executives. One was an accomplished senior
Heard It Said that Vendors Need to Do Better with Their Retail Relationships
LP executive for a major retailer, another was a senior officer for a major solution provider, and the third was an entrepreneur and founder of a vendor company. It was a pretty robust group, all of whom had firm convictions on retail loss prevention and the people in our industry.
While we all brought very different backgrounds to the table, there were some basic ideals that we had in common. Each was proud of their accomplishments as well as the successes of those who have worked for them. Each was curious about the opinions of the others. In each I could sense that their career journey had been far more important than any potential destination.
We discussed many issues and shared our opinions on a variety of topics. Here’s a sample for your consideration.
Comparing One Era with Another
Some would say Woods is better than Nicklaus. Some proclaim Ruth as the best of all time. Others maintain Edison and Ford were greater than Gates and Jobs. What say you about today’s LP professionals in comparison with 25 years ago?
Today we clearly have far better technology, far better access, and an abundance of information. Some might suggest that this gives today’s executives an advantage. Others might argue that is based on tools rather than talents. But how we lead and manage our people might provide the best means of comparison.
Look at today’s leaders. Do those they worked for 25 years ago deserve any credit for helping them climb the ladder? If so, then let’s see how our current leaders do with mentoring tomorrow’s leaders. That seems like a fair comparison to me.
Jim Lee, LPC Executive Editor
So tell us retail executive, what can the vendor do differently or better to build or keep a relationship? Here is the plain, simple truth. In most cases, we have choices. Sometimes it’s price. Sometimes it’s the style of the vendor. Sometimes it’s based on the trust and integrity of the vendor. (Wait. Does that mean sometimes it’s not?) Sometimes it’s a lack of awareness that there were possible alternatives. But it’s always based on selecting a product that’s best suited for my company.
And Vendors Feel that Retailers Need to Be More Open with Them
A retailer says, “Let’s get together and talk,” and then doesn’t reply to emails or return phone calls. Why is there a disconnect? Is it the quality of the product, the wrong solution, the price, a lack of relationship, or something else? A little straight-forward dialogue would be the best and most professional way to treat a vendor, don’t you think?
The Retailer Doesn’t Want to Become Complacent
Things are going pretty well. Business is good. Management is pleased with the shrink performance. Unfortunately, that type of thinking can be a trap. “If it isn’t broken, don’t fix it” may be the wrong way to look at something. Maybe it’s better to take the approach, “If it isn’t broken, break it.”
Look at the surprises that have come our way. If we sat down and made a list of all the things that could go wrong, would we be pleased with our plans and preparations to manage them? When we don’t hear complaints or unhappiness from our LP team, does that mean they’re all pleased, or does it mean they’re afraid to speak up? Have they accepted their own complacency?
We have to find objective ways to learn from our people how they are really doing. That same concept applies to vendors as well. They, too, can become complacent with how they are managing the retailer relationships. Don’t make the sale and walk away.
The Entrepreneur Piped up That Developing New Relationships and Mentors Have Proven Successful
Sometimes we fool ourselves into believing that we don’t have time to work on new relationships, and that yesterday’s mentors will be right for us tomorrow. Too often I’ve had casual conversations with a retailer or vendor and not really stopped to listen. Without truly listening, how can we develop a respectful and educational relationship? Whether or not it leads to any new business, it may be very enlightening on any number of levels.
The term “mentoring” can get tossed about too loosely, as if it’s just a natural occurrence. I think in today’s world, if you just have one mentor you’ve missed the boat. Cross-functional mentors, vendor mentors, peer mentors, non-retail mentors, and others can help you achieve success and internal happiness.
Sometimes We Need a Little Self-Evaluation and Self-Motivation
We all agreed that each of us is capable of making mistakes, and occasionally the fault is our own. Self-evaluation and a willingness to look within ourselves to find solutions is an important part of being a leader. All of us have our own opportunities to learn, grow, and improve. When, where, and with whom should the buck stop? Incidentally, I informed all three that they would find the interview in this issue with General Becky Halstead interesting as she addresses these very issues (see page 27).
We ordered a second pot of coffee, and the four of us continued on. To be continued.
Customer expectations are higher – we have to up our game
LP can lead this conversation
Smart EAS, analytics and RFID improve our visibility
LP technology does so much more now
The tech is smarter, which means better information
And better information means better customer experience
Industry roles are changing as fast as the technology is.
We’ll help you think like a Chief Visibility Officer.
From the big picture to a million minor details, your job is all about visibility. Creating a secure shopping environment. Managing loss prevention. Tracking millions of pieces of inventory – from the manufacturer to the shopping bag. And doing it all in one of the fastest-changing environments in global commerce. That’s why we like to think of people like you as Chief Visibility Officers – with an eye on every aspect of the industry, and the goal of improving customer experience through effective security practices backed by genuine Sensormatic® EAS technology. At Tyco Integrated Security, we get how important that is – and it’s why we work with 80 percent of the world’s Top 100 retailers on smarter ways to advance their business security. We’re more than a security company. We’re your Tyco Team.
To download our latest White Paper, visit TycoIS.com/LP
