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Within any grocer, the meat department tends to have high margins, while at the same time experiencing high losses relative to other departments. This is due to the nature of the product, being highly sensitive and perishable, therefore spoilage and … Continue reading
Tag Archives: Loss Prevention
Big Data – Insights to a Competitive Advantage
It is commonly thought that data is the foundation of information, and information is knowledge. Yet to gain true insight, large quantities of data may be needed. Today, big data is a term increasingly being used to describe the massive … Continue reading
Excellence in the Ordinary – Part 2: Growing Revenue
In previous blogs (see Inventory Distortion – Part 1 & 2) we have discussed the advantages that can be gained from reducing inventory distortion, ensuring the right product is on the shelf at the right time; when the customer wants … Continue reading
Excellence in the Ordinary – Part 1: Reducing Loss
We make a great deal of assumptions in retail operations about how effective our associates are performing, responding to the needs of the business, and complying with company policies and procedures. Assumptions are often made that business is progressing as … Continue reading
Inventory Distortion – Part 2: Overstock: How much is too much?
Inventory distortion is an issue that can be analyzed and attacked from many different angles. It can develop from a number of sources, including distortions at the vendor level, or non-compliance and process failures at the POS. Attempting to ensure … Continue reading
Why Reorganize Retail Corporations?
When retailers fall short of their expectations, whether it be a measure of same-store sales or not meeting profit goals, a common practice in the industry is to completely reorganize their business plan. Falling behind same-store sales can be attributed … Continue reading
Retail Grocery in 2012 and Beyond
The traditional ways of looking at retail profitability considers customer purchasing behaviors as well as product costs, costs to serve the customers, operational expenses and other such factors. Grocers profitability is affected even more by secondary factors, typically related to … Continue reading
Who owns profitability in retail?
It is not uncommon for success to be shared in retail when times are good, especially when profitability has increased for the organization. However, when profitability drops, fingers are always pointing, but who gets the blame? When trying to understand … Continue reading
The Fallacy of Same Store Sales
Today, Wall Street investors use same store sales as an indicator of the viability and investment potential of a retailer. By analyzing how well existing stores perform during a particular month or quarter compared to that same time period in … Continue reading
Identifying greater profits and sales with RFID
Having learned from past failures, lately more and more retailers are discussing their new and improved implementation of RFID. This new attitude towards RFID is encouraging in light of its history.