Shrink 101
The difference between your physical count and your on hand count
What is Shrink
the cause of loss committed by a person(s) not related to the store
What is external shrink
the cause of loss committed by person(s) related to or employed by the store
what is internal theft
reticketing items incorrectly, not marking items out of stock, and inaccurate receiving, claims and store processes
what is operational shrink
Managers, key carrying leads, and loss prevention managers are
Who are the only people that can contact law Enforcment
These three categories contribute to shrink
What is External, Internal and Operational shrink
Name the three external theft offenders
What is Organized Crime, Professional, Opportunist
the categories of internal shrink
what is cash/merchandise theft, score card abuse, credit card fraud, discount abuse
control what you can control, train people, trust but verify, lead by example, and hold people accountable are examples of
what are the 5 operational imperatives
The store annual inventory is the top 5 worst in company history
what is Chaz in a suit and tie
The budgeted percentage for shrink
What is 1.5% budget
Protecting the merchandise and the store from loss
What are merchandise standards, give outstanding customer service, and observing behaviors
Register constantly being over/short, excessive voids, change and coupons at register, ringing without athletes are examples of
What are cash theft signals
three services or items that contributed to operational loss in 2023:
What are Bike Accessories Kickstands, Golf Grips, and Tennis String Units
Wearing merchandise, trips to vehicle often, bringing in excessive bags, unusual use of bathroom and fitting rooms is an example of
what are merchandise theft signals