Addressing a polycrisis environment of theft, threats and risks

The landscapes of retail theft, risk and threats have expanded and accelerated over the past few years. Convergence grows between cyber and physical bad actors across the omnichannel environment. Global conflict and events cause direct and indirect impacts on retail in the form of supply chains, protests and unrest, and other business disruptions. Organized retail crime, violence and theft remain at high levels, with losses touching the entire retail ecosystem.

Meeting the current challenges and preparing for tomorrow’s threats requires a new approach — an enterprise security risk management approach built on collaboration and engagement across multiple disciplines designed to prevent, protect and prevail.

“The real key to enterprise risk management for us is to get to a point as an organization where we help others identify what their risks are and then assign accountability for managing those risks,” says Tim Lapinski, divisional vice president, Helzberg Diamonds, and a member of NRF’s Loss Prevention Council.

NRF PROTECT is the conference where all these disciplines, roles and responsibilities convene to learn, network and seek innovative ideas for handling a broad range of risks and threats. Retail brands of all sizes and segments come together to share their challenges, approaches and successes against threats, risks and losses.

To meet escalating threats, the loss prevention tracks at NRF PROTECT have doubled, while focusing on both the strategic and tactical needs across all roles and responsibilities. Showcasing the insights of various retail brands, sessions will tackle the foundational aspects of loss prevention while introducing topics on growing global enterprise risks and expanding asset protection responsibilities.

Develop an enterprise security risk approach

The retail industry and loss prevention profession continue to evolve. Being prepared for the now, and ready for what's next, requires an evolutionary approach. Enterprise security risk management will be a strategic topic supported by several sessions at NRF PROTECT. Working alongside risk management and other functions can increase strategic engagement of loss prevention against operational, financial and reputational concerns by managing risk in a polycrisis environment.

ORC loss is impacting the entire retail ecosystem

Organized retail crime isn’t just shoplifting. Cargo theft and supply chain losses are increasing. ORC groups are preying on the elderly using gift card scams. Ecommerce and delivery channels continue to be plagued by porch piracy, refund scams and delivery thefts. Sessions on these topics and more will provide insight and understanding to prevent, deter and mitigate loss across your entire organization.

Innovative ideas for handling “traditional” loss prevention issues

Often, a new approach leads to innovative ideas for controlling everyday concerns across your retail stores. Learn from a variety of retail brands and segments on how they lead with empathy to handle homelessness issues, fuse security operations and asset protection to battle against theft, and increase data efficiency to create new risk models to prevent shrinkage and loss. Innovation and a different way of thinking breed improved results.

Our world is smaller — yet global issues impact us all

Risks and losses that begin beyond our borders eventually reach and impact most brands domestically. Learn the similarities and differences of theft across the globe, recognize the value of global threat intelligence, and gain insights into the benefits of establishing a security operations center that meets your organizational needs. Global events have direct and indirect impacts on the retail sector. Being aware of those impacts early can help mitigate risks and threats against your brand.

Focus on partnerships to build a safer future

No individual department or brand can be successful without internal and external partnerships. Industry partners like solution providers and mall partners help build stronger infrastructure. Law enforcement and prosecutors assist retailers in keeping communities safe. Peer relationships and networking help benchmark your programs and foster new ideas. All of these are paramount to individual success and maintaining a strong retail industry.

“No one likes to think about worst case scenarios,” Lapinski says, “but it’s how we ensure we have the right protections in place for our business to get through the toughest of challenges.”

NRF PROTECT leads the industry in providing learning and networking opportunities across the retail sector. Register today to join professionals in asset protection, loss prevention, cybersecurity, digital fraud, risk management and legal roles to engage collaboratively, further the mitigation against all threats and develop an enterprise security mindset against future risks.