From the impact of emerging technology to reducing shrink and fraud, retail loss prevention teams today face increasingly difficult challenges. As the retail landscape continues to evolve, we rely on our most innovative LP leaders to pave the way. Ahead of the NRF PROTECT 2018 conference to be held June 11 – 13 in Dallas, we asked a few of our LP Advisory Council members to weigh in on their top-of-mind priorities and challenges in 2018.
John Velke, SVP of risk management at Total Wine & More, is not only focusing on driving improvement in shrink, but in strengthening the enterprise risk management function. The function equates enterprise issues like workers’ compensation fraud, natural disasters, active shooters and attacks on commercial facilities with newer issues such as cyber breaches and social media boycotts to protect company assets.
Five Below senior director of asset protection Gregg Smith is also focusing on reducing shrink and fraud in 2018. “Our strategy consists of four components: field engagement, education, metric management and technology,” he says. Along with developing new program initiatives to increase engagement among field leaders, he strives to provide the tools and resources they desperately need. And in addition to implementing regular metric reporting for driving growth, he plans to implement new technology to improve operational efficiencies.
As the vice president of loss prevention and risk management at Bloomingdale’s, Chad McIntosh is also interested in new technology. Although his team works on traditional issues like workplace violence, reducing shortage and enhancing company profitability, a newer priority is “finding and testing technology that will assist us with these challenges.”
Loss prevention leaders from across the country will come together to learn strategies and tactics for meeting these challenges and more this June at NRF PROTECT in Dallas. Check out the video below to learn more about the education offered at the event.