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Inventory Shrinkage

How to Calculate Shrinkage in Retail

Understanding how to calculate shrinkage in retail is important. However, understanding why it is important to control these results and how we can impact company profitability by both improving sales and controlling retail shrinkage is the key to success.

Identifying In-Store Inventory Issues Automatically

Inventory management underpins nearly every goal a retailer has, so executing effective management within the store is critically important.

Next Up for Retailers: Automatic Identification of Inventory Issues

When considering the problem of loss in a retail environment, it’s natural to first think about the register. After all, it’s where money changes...

10 Common Characteristics of High-Shrink Retail Stores

Shrink isn’t a cause—it’s an effect. It’s an outcome that goes well beyond the concept of bad guys stealing from our stores. Taking action to build awareness and understanding is essential to the success of your business. Here are some common characteristics in high-shrink stores.
Incident Reporting concept

Incident Reporting Best Practices: The Key to Moving Unknown to Known Shrink

How much of our shrinkage number is due to theft? How do you answer this question? Educated guess? Based on indicative feedback? Through deep data analysis? The “go to” tool to understand the answer to these questions, and move shrinkage from unknown into known shrink, is often the incident reporting tool.

Dollar Tree Announces Focus on Reducing Shrink with Hiring of LP Executive

In his third-quarter earnings call Tuesday, Dollar Tree’s CEO Gary Philbin announced that the company hired Robert Oberosler as senior vice president of loss...

How Well Do You Know These Essential Inventory Control Techniques?

From an LP perspective, a strong understanding of how retail inventory is managed is crucial to resolving shrink-related issues. One basic but important component is knowing the inventory control techniques and accounting methods used by your company. The two most common are the “retail” method and the “cost” method of accounting.

Unexpected Loss in the Bagging Area: Managing Losses Associated with Self-Checkout

A recent report from the ECR Community Shrinkage and On-shelf Availability Group charts the scale and extent of the losses retailers are experiencing from a range of self-scan and checkout technologies. The research also provides a detailed review of the ways in which these losses might best be controlled.

Report: Retailers Embracing New Approach to Managing Loss

The Retail Industry Leaders Association recently published "Total Retail Loss 2.0: From Theory to Practice," a report that analyzes the global retail industry’s adoption of the Total Retail Loss concept first introduced in 2016.

Nike and the Retail Industry Adoption Outlook for RFID

“It’s quickly becoming the most precise tool in our arsenal to meet an individual consumer specific need at the exact right moment...I think this will help us create the capability to grow profitably across the breadth of the portfolio and ultimately, again it’s putting ourselves in position to serve consumers in a way that gets them the product that they need when they want it and where they want it.” - Mark Parker, Nike CEO

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