The November–December 2019 print edition of the magazine has several significant and interesting articles. Here’s a guide to what you will find in this issue.
Total Retail Loss 2.0
Our cover feature is authored by prominent UK researcher Professor Adrian Beck. The article summarizes his recent research into the implementation of the Total Retail Loss (TRL) theoretical concept first introduced to retailers in 2016.
As you might recall, Beck has spent a great deal of time over the past decade seeking a more comprehensive understanding of “shrinkage.” With the support of the Retail Industry Leaders Association (RILA), the Total Retail Loss typology has been adopted by multiple retailers globally over the past three years.
The newly published research surveyed those retailers who have implemented the TRL concept to one degree or another to determine what successes, barriers, concerns, and challenges they have experienced to further refine the typology. This must-read article “Total Retail Loss 2.0: Moving Beyond the Theory” provides a good overview but also provides a link where you can download the entire report. The link can also be found on the online version of the article on our website.
The World of Risk Management
When you think about The Cheesecake Factory, it’s likely more about their huge menu of mouth-watering entrees and desserts, not safety and risk management. But, of course, every business has challenges and risks that must be managed not just for the success of the company but also for the safety of consumers and employees.
Our Executive Editor Jim Lee, LPC, sat down with Kurt Leisure, vice president of risk services for the highly successful restaurant, to hear his personal story as well as get an in-depth look at the company. His is a most interesting professional journey that will provide insights into what we’ve headlined as “The Dynamic, Challenging, Innovative World of Risk Management.” The information is not only pertinent for others with risk management responsibility, but also for any asset protection professional wanting to have a better understanding of the topic and how thinking in risk management terms could make you a better LP professional.
The Evolution of Retail
Much has been written and discussed in the general media about the “death” of retail. If one did not know better, one might see truth in the perception that traditional brick-and-mortar stores are going the way of the dinosaur as e-commerce rapidly expands. But a closer look at the statistics reveals retail is far from dead and actually expanding both at the mall and online.
“The Future Is Now: Retail’s Revolution and Ramifications for LP” written by Senior Writer Garett Seivold closely examines this evolution with Tony D’Onofrio, a former global marketing executive with Sensormatic. D’Onofrio is an expert observer of retail and has put together an enlightening presentation on the subject using ample statistics, videos, and examples from across the globe. We were fortunate to have him present at the magazine’s annual editorial board meeting in October to roughly 150 retail and loss prevention executives aligned with the magazine, the Loss Prevention Foundation, and RILA.
The article also features a sidebar titled “How Has Your World of LP Changed” with comments from multiple retail asset protection executives on how they see this evolution impacting loss prevention professionals and their programs. It’s an interesting look at what’s happening today and where retail is going tomorrow.
Our annual guide to products and services provided by the many solutions providers who support the industry starts. Please take a few minutes to look through the ads and follow up with these vendor partners when you are in need of solutions in your organization.
All these feature articles, the resource guide, and our many great columns make for a wealth of knowledge that will benefit you in your role. Thank you as always for your ongoing support of the magazine.