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Where's My Shrink | Sources of Shrink Loss

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Sources of Shrink Loss. Sources of Shrink Loss. And The Retail Control Group. Into supermarket found overall shrink in 2011 at 2.70% of retail sales,. With best in class companies (18%) reporting shrink at 1.72% of retail sales. This figure confirms a six-year trend of retail shrink in supermarkets remaining principally unchanged. However, analysis of shrink prevention practices reveals two significant changes. Companies are measuring shrink. For additional shrink resources, click here. It is important t...

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Where's My Shrink | Sales and Shrink by Department

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Sources of Shrink Loss. Sales and Shrink by Department. Perishable vs. Non-Perishable. Survey respondents reported overall store shrink at 2.70%. Of retail sales, with a low average of 1.76%. Of retail sales and a high average of 3.10%. 65% of all store shrink and 38% of total-store sales were attributed to perishable. Departments (grocery and center store) averaged 62% of the total store sales and contributed 35% of total store shrink. Sales and Shrink by Department. A close look at individual departmen...

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Where's My Shrink | Employee Engagement

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Sources of Shrink Loss. What is Your Most Valuable Asset? Engagement [ɪn-ˈgeɪdʒ-mənt, en-]. Building an environment where employees will do most anything to improve efficiency and profitability and your customers refuse to shop anywhere else. Turning every employee into customer service fanatics, efficiency experts and profit warriors. Dominating your market because customers love to shop at your store. Increasing sales and growing profit through customer loyalty. The last profit frontier). An employee s...

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Where's My Shrink | Best Practices for Shrink Reduction

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Sources of Shrink Loss. Ten Rules for Smart Loss Prevention. A proactive control culture is created by self-accountable leaders. Preventing store shrink is a corporate issue. Don't blame store managers - under effective leadership, store managers deliver the performance they are trained in, rewarded for, and asked to deliver. Change the playing field. No thief wants to get caught. If they are stealing. 3 Education and training:. Is the foundation of a profitable shrink control program. Consistent control...

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Where's My Shrink | Non-Perishable Shrink

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Sources of Shrink Loss. Non-perishable departments (grocery and center store, including dairy, frozen, beer/wine/liquor, HBA, GM and pharmacy) averaged 62% of the total store sales and contributed 35% of total store shrink or $172,303 of total store shrink. The average grocery department reported 1.10% shrink, or $71,010 in annual in profit loss. General Merchandise posted the second-highest non-perishable shrink at 2.71% shrink, or $41,011 in profit loss. Ensure proper and accurate measuring. For more i...

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Where's My Shrink | Shrink From Operations

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Sources of Shrink Loss. 64% of all store shrink occurs as a result of a breakdown in or the absence of operational best practices. Shrink from operations is broken into nine categories:. Employee and Cashier Errors. Companies that report lower than average shrink utilize cross-functional training. Of loss prevention, audit. 57% of operational shrink loss can be controlled yielding a potential $187,010 profit improvement opportunity in the average store. Back to Shrink by Category.

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Where's My Shrink | About Us

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Sources of Shrink Loss. Having worked with hundreds of successful managers and executives, Mike has discovered and simplified the core strategies and store processes needed to maximize profitability in supermarkets. By specializing in implementation strategies, business processes, and proven best practices, he creates sustainable strategies for operational excellence, employee commitment, and creating an engaged and energized workforce.

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Where's My Shrink | Shrink From Theft

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Sources of Shrink Loss. 36% of all reported shrink was attributed to theft and or misdeeds. Theft is that class of inventory and/or profit shrink caused by the stealing, pilfering, larceny, and other misdeeds resulting in product and profit loss. Theft is intentionally caused by employees, customers, or vendors and is tracked in four primary categories:. Back to Shrink by Category.

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Where's My Shrink | Perishable Shrink

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Sources of Shrink Loss. 65% of all store shrink and 38% of total-store sales were attributed to perishable departments. The meat department contributed the highest amount of total store shrink at 18% of total store shrink or $93,414 in annual in profit loss. Produce was the second-highest shrink contributing department at 16% of total store shrink or $82,022 in profit loss. Causes of perishable shrink are:. Ineffective ordering contributed on average 28% of shrink across all perishable departments.

supermarketproductivitysystems.com

Engagement Case Study - Supermarket Productivity Systems

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Employee Engagement Case Study. Employee Engagement Case Study. A Retail Case Study in Engagement at Apple. Look at Apple for an example of employee and customer engagement. Customers tend to love their experiences with engaged employees in Apple stores. An article in the New York Times: Apple’s Retail Army, Long on Loyalty but Short on Pay. Provides great insight into Apple’s retail model. The brand is built on an army of hourly workers. People seek out a higher purpose. Train for key customer moments.