Retail Risk and Security: A Constant State of Reassessment
How do you measure a proactive means of what can be done to mitigate the unique risks of retailing? On the front end; by setting the foundation through relevant, strong policies, clear procedures and guidelines, developing a policy/compliance/validation audit program focused in on physical security, loss prevention measures. Next is follow up by a periodic gap assessment that provides a scope of vision snapshot throughout the course of the year with an executive summary pushed to Senior Leadership in the organization that calls out the top risks to a business (to both internal and external customers, product and brand).
Krista Osborne, former Starbucks CSO and currently with Amazon as the Global Manager for Compliance & Validation, said that one of the most pivotal pieces in mitigating retail risk from a loss prevention and physical security perspective is the Strong Policies, and is something that needs to be on the front end and should establish a foundation through relevant, strong policies, clear procedures and guidelines. Often, the policies are crystal clear to those who build them yet when rolled into the field, there may be translation challenges and a reoccurring lack of compliance with policies often points to a need for policy revision and clarity, Osborne said. The purpose of policies is to maintain control and illustrate the scheme and systems of management—safety & security of people (internal & external), assets and your brand.