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Petrosoft Blog

Is Inventory Shrinkage Affecting Your C-Store Profit? Here are 10 Ways to Prevent Inventory Shrinkage

Is inventory shrinkage affecting your c-store business? You’re not alone. Preventing shrinkage in a convenience store is a common issue many owners face daily.

Shrinkage is simply the loss of physical inventory at your c-store. Many factors cause shrinkage in retail stores, including employee or customer theft, multiple inventory management systems, poor recordkeeping, invoice errors, changes in your operations, fraudulent vendors, or misplaced store items. As you know, even moderate amounts of inventory shrinkage can harm your bottom line.

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Physical Inventory Count vs. Inventory Cycle Count: All You Need to Know

Many c-store owners experience a loss in revenue and sales due to poor inventory management. You must take the steps necessary to ensure inventory counts are accurate to better forecast sales, monitor vendors, and provide excellent customer service. But there is more than one way to manage your inventory.  

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The Ultimate Guide to Convenience Store Set Up in 2021 – How Inventory Placement and Inventory Movement Can Maximize Your C Store Profits

Inventory management at your convenience store can make or break your c-store operation. The first step to gaining control over your c-store’s bottom line is to get an accurate view of your item-level inventory.  It’s critical to use the data you gather to learn about convenience store inventory control and increase your c-store profits with dead inventory management, inventory placement, and shrinkage control.

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How To Use Inventory Cycle Counts To Decrease Inventory Shrinkage in Convenience Store

Every c-store owner must control shrinkage and meet customer demand with a regular inventory cycle count. Not only will you keep shelves stocked with high-selling items, but you can keep your eye on high-theft items as well.  And, as you know, inventory placement optimization will help increase your profitability. 

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3 Important Metrics to Maximize Your C Store Performance – Learn How to Calculate Shrinkage and Monitor Convenience Store Daily Sales Report

Enhance your c-store performance by learning how to calculate shrinkage, determine your sales per square foot, and track your convenience store daily sales report to understand average customer spending. 

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Leverage Inventory Management for Superior Performance

Right-sized technology provides the critical competitive edge in the retail playing field, particularly among independents and chains. Today’s leading convenience store operators are maximizing their performance by leveraging technology in two interrelated areas of inventory management practice: optimal inventory levels, and a highly productive product mix. See how SG II Group built the infrastructure they needed to manage both their inventory and their bottom line.

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Is Your Disaster Emergency Plan Missing These 8 Top Guidelines?

If disaster strikes, will you be ready?

Don’t let a disease outbreak or natural disasters, like earthquakes, tornadoes, hurricanes, fires, floods, and snowstorms take you by surprise. Protect yourself instead by creating an effective emergency plan.

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3 Tips to Optimize Your Convenience Store Layout and Skyrocket Sales

As with any retail space, the goal of a convenience store layout is to maximize sales by exposing customers to more products. The more time your customers spend in your store, the more products they have an opportunity to view, and the greater the chance is that they’ll find things they like and want to purchase.

In a convenience store, you are challenged with exposing customers to products without impeding traffic flow—all within a confined space. This is a tough balancing act. Not enough exposure and you can hinder sales, but an overpacked design obstructing traffic flow too much can result in a negative impact on the customer experience.

Here are a few ways you can optimize your convenience store layout for better sales:

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How Technology Reduces Employee Theft

Employee theft, a well-known issue for restaurant, merchandise and fuel retailers

According to the 2015 US Retail Fraud Survey:

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How to Control Overstocks With Inventory Forecasting

Strong sales and profits are the result of having the right product mix and level of inventory. Achieving this ideal mix requires having current and accurate inventory information.

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How End-to-End Cloud-Based Integration Helps Retailers Meet Customer Demand, Manage Margins, and Prepare for the Future

Ask single-store retailers and multi-store operators alike what they consider their biggest business challenges, and the conversation will likely revolve around one topic: meeting customers’ demands while maintaining a healthy bottom line. In order to meet both of these objectives, retailers must anticipate what customers will want and understand the margin for each product they sell.

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How POS Systems and Retail Automation Drive Customer Satisfaction, Manage Risk and Maximize Profits

If you could hire the “perfect” employee for your c-store, what would their job description be?

Would they be able to interact with customers, in person and via mobile devices? Remember what individual customers buy and suggest products and promotions that dovetail with their shopping habits? Quickly verify a shopper’s age before ringing up the bottle of wine they’ve set on the counter? Track inventory in ways that minimize out-of-stocks? That “perfect” employee is available in today’s state-of-the-art POS systems!

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