LP Magazine

SEP-OCT 2017

LP magazine publishes articles for loss prevention, asset protection, and retail professionals covering shrinkage, investigations, shoplifting, internal theft, fraud, technology, best practices, and career development.

Issue link: http://digital.lpportal.com/i/874445

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Page 44 of 79

going to help move resources to the most effective places in the future. The asset protection team must consider what forecast and situational planning demands and alerts will be needed. Effective communication between team members is vital, but formalizing this communication and collating the data is just as important when deciding where precious resources are allocated from then on. In the early days of the new concept of a mall within a store, this will be a huge learning curve for the team. New behaviors, new flows of people, and new customers will inhabit the space, and we will all need to learn from each other. Regular team meetings at that point will bring together shared best practice. The technology systems will allow the team to understand through qualitative and quantitative data interpretation, which will require stochastic tools to predict event probability. This puts them on the forefront when it comes to dealing with potential problems. Going into a new situation blind increases the scare factor many times over. This is all part of the support process. A mall within a store can change the way people interact with a retail environment. The past and current model of "if you build it they will probably come" isn't working. Online shopping is over its days of feeling like the Wild West and is now seen as a safer option by many consumers. In contrast, the mall feels like a risk in terms of having a higher price than online stores, putting their person or possessions in harm's way, and being a hassle in terms of travel. Making the mall a place where experiences happen, those that you cannot even contemplate online, and adding in vital services creates a mall that can become its own place, almost like an enclosed community or town. The future can look bright if we understand the demands of the consumer. A race to the bottom on price drags other elements of the offline retail space down with it. Service suffers, security takes a hit, and people stay away in droves. A mall within a store looks to provide a space where current and future consumers want to hang out. This feels like a pretty cool place to visit. I hope we get there. MAURIZIO P. SCROFANI, CCSP, LPC is a well-known supply-chain asset protection professional with over twenty-five years' experience in retail and manufacturing. He is a prolific writer and frequent speaker at regional and national conferences. Scrofani is a consultant and general partner with MPS Ventures. He was recently named vice president of supply-chain security and intelligence for ALTO US. Scrofani can be reached at maurizio@mpsconsultants.com. 45 LP MAGAZINE | SEPTEMBER-OCTOBER 2017 A MALL WITHIN A STORE CUT SHRINK IN HALF Reduce Labor Up to 80% 800.747.4665 or 815.877.7464 visit us online at www.southernimperial.com Turtle is a multi-function device that is proven to reduce theft, reduce labor costs, and a ROI of 6 months! Learn more @ www.intelligentlossprevention.com

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