Loss prevention team duties don’t stop at preventing theft or managing inventory shrink. As evidenced by some of the major news stories of recent years, tragedies and crises in retail are bound to happen–and LP must meet the challenge. Are you prepared?
The Chipotle Lesson, the Waffle House Index, and similar crisis phenomena are discussed at length in a feature article by Laurence Barton, PhD, in the January-February 2017 issue of LP Magazine. Barton, whose 2008 book, Crisis Leadership Now: A Real-World Guide to Preparing for Threats, Disasters, and Scandal, provides critical crisis management advice for executives, knows what he’s talking about. In the article, Barton shares examples, lessons learned from recent crisis events, and practical tips on a retail disaster recovery plan:
It would be wise to assume that your competitors are ahead of you. They likely have fusion centers, not emergency operations centers. They are monitoring what Twitter is saying about your company and the crisis real-time. They know the crime trends in neighborhoods, not regions. They have fortified their fusion efforts to link crisis response to messaging with pre-populated statements and frequently asked questions. From a product recall to an industrial accident to a workplace violence incident, they have prepared beyond their peers. My hope is that you and your company move to that category of best practice sooner rather than later. Before ‘it’ happens to you.
Read the full article, “See You in Court,” to learn how loss prevention may become “crisis central” in the event of a disaster, or check out the other articles in the January-February 2017 issue of LP Magazine. Not yet subscribed? No problem – register here for free.