The use of geospatial predictive analytics as a key tool in the fight against organized retail crime (ORC) is the subject of a feature article in the October 2018 issue of LPM Online.
From advanced spatial analysis to the value of analytics in LP, from a department store case study of artificial intelligence to an LPRC research study comprised of in-person offender interviewers, the latest issue of LPM Online gives you the information you need to become a better industry pro.
Students from the Retail Industry Leaders Association (RILA) Student Mentor program worked alongside the asset protection team from The Kroger Co to dig deep into the data and use predictive modeling to help make recommendations about problem areas.
The amount of change Chad McIntosh has seen with Bloomingdale's loss prevention department over the years has been remarkable. Read more in the exclusive interview in the September-October issue of LP Magazine.
"Driven by improved accuracy, speed, and an increased need for enhanced surveillance and monitoring, the global facial recognition market is predicted to grow from $3.85 billion in 2017 to reach $9.78 billion by 2023."
According to a 2017 National Retail Federation survey, organized retail crime (ORC) is on the rise. That's useful information for corporate industry executives, but loss prevention professionals in stores—those who see loss prevention issues like ORC every day—are well aware of the problem.
Law enforcement partnerships with the retail community can establish a foundation of mutual support. When agencies, retail investigators, and prosecutors make a sincere effort to share information in response to ORC concerns, they are more likely to resolve issues and make arrests that can halt theft operations.
What happens when the criminal behavior of a shoplifting ring is actually connected to something even more ominous than a high shrink rate? What about when it's tied to modern slavery?
Why do people steal? LP looks at the opioid crisis as a driving motivator of theft and considers the many angles and approaches to the issue.
As professionals in the retail space, it's our responsibility to keep up with the methods and tactics used by thieves when it comes to organized retail crime (ORC). These days, improving technologies equal potentially increased profits in the eyes of theft groups.