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Risk Analysis in Loss Prevention Research

NCJ Number
Security Journal Volume: 24 Issue: 3 Dated: 2011 Pages: 225-236
Tracy L . Johns
Date Published
12 pages
This study examined risk management models and the effects they have in the prevention of retail loss.
Conventional risk management models identify risks, assess the probability of their occurrence and potential impact, and then implement steps to reduce the risk or the impact of the risk. Although almost all retailers implement measures to try to eliminate or reduce theft (the end step of risk management), little is known about how many undertake systematic risk assessments of loss to guide solutions and the methods that they may use to do so. This study presents the results of a survey of 22 diverse retail companies about their LP/AP risk management process, including the types of risk data collected, types of risk assessment and analyses conducted, and how these data are used in management decisions. (Published Abstract)