Loss Prevention Magazine Podcast

As retailers prepare stores for renewed foot traffic in the return to business on the heels of the COVID-19 pandemic, we need to consider that an increase in organized retail crime activity may result in an epidemic of retail crime as well. According to National Association for Shoplifting Prevention data, there was a significant increase in theft and ORC activity in the aftermath of September 11th and the economic crash of 2008. With much of the product pipeline cut off to many ORC operators these last weeks and months and with the increased desperation of the massive state of unemployment, all signs point to a significant surge in retail theft and ORC activity.
The panel of industry experts on this podcast share best practices, lessons learned, and planning recommendations that will benefit every retailer, adding to your loss prevention strategy as you position your stores and associates for this possible new wave of criminal activity.

COVID-19 has forced businesses around the world to adapt and in many cases to transform from their typical business model to now relying heavily on a variety of delivery models to attract and retain stay-at-home customers. While retailers are trying to adapt to the new normal of limiting the number of customers, enforcing social distancing, curbside pick-up, and other new measures, the challenge of supplying these stores and gearing up for the country’s phased reopening has brought an entirely new set of logistical difficulties that require creative thinking to meet the demand and ensure safe, timely delivery. This podcast feature three supply chain experts - Byron Smith, Glen Master, and Jason Rowland - who will offer their insights into the challenges addressed and solutions going forward.

Most retailers are used to short-term store closures for a holiday and even in a disaster like a hurricane, when we might be closed for a few days or a week. But rarely, if ever, have we all had to close for multiple weeks at time. During this unprecedented pandemic, there are many precautions you may not have considered as you plan your reentry strategy and begin to get back to business. What condition was the store in when you locked the door and what will it be like when you go back in? From air filters to garbage, from mold to rodents, and that’s all before we talk about extending social distancing, managing a healthy workforce, and more. This podcast features disaster preparedness, business recovery, and reentry expert Ed Minyard, CEO of ResponseForce1, who offers useful tips and tactics to consider as you prepare to reenter and recover your business operations.

So, you’ve been furloughed or displaced—now what? First of all, don’t panic. There are many across the country and across the world that are facing similar questions. Don’t wait. Find the resources available to you and get to it. This podcast features recommendations from three loss prevention recruiting and counseling executives who have a combined 75 years of experience to help you navigate the current personal and professional crisis.

Consumer behavior is changing, and retailers need to be sure they have a clear line of sight into how those changes are impacting their business. As they reopen, challenges around satisfying demand, optimizing store operations, and protecting profits are intensified by the lack of a timely and accurate understanding of data behaviors. To appeal to customers in this “new normal,” retailers need a prescriptive approach to data analysis that can provide them with insights that help them adapt to the ever-evolving needs and expectations of modern consumers.
In this podcast, Director of Operations Terry Stanley, who is responsible for asset protection, workforce management, and store safety, talks about how Lowes Foods leveraged prescriptive analytics to drive insights that provided a deeper understanding of what was truly happening in their business as the pandemic changed consumer buying behavior.