![]() This way, mitigation strategies will be carried out in a timely manner. This risk owner might be a department head, or a property or store manager as long as there is someone on the ground who can ensure that risks are actively identified and control tools are in place. It’s a simple notion, but one that is so often overlooked. In order to effectively mitigate risk in retail, someone has to be held accountable. ![]() But as any risk manager would prioritize their organization's risks, here is a prioritized list of procedures to try: Top 10 Retail Risk Management Tips 1. In an industry such as retail, risk managers have the added complexity of risks related to the consumer. This adds yet another dimension to an organization’s risk portfolio, making it difficult to present only ten tips for retailers to mitigate risk. New regulatory measures come into effect each year, new products hit the market, and new distribution channels are developed. Today’s risk management landscape for any industry is complex and vast.
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