Cigarette Price Hikes Prompt Hidden Theft

Cigarette Price Hikes Prompt Hidden Theft Cigarette Price Hikes Prompt Hidden Theft

Cigarette Price Hikes Prompt Hidden Theft

Large increases in cigarette prices provide opportunity for dishonest store managers to steal thousands of dollars.

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Audit Service Key Indicators: Taking Measure of Shrink Measurement

Audit Service Key Indicators: Taking Measure of Shrink Measurement Audit Service Key Indicators: Taking Measure of Shrink Measurement

Audit Service Key Indicators: Taking Measure of Shrink Measurement

Ensuring that shrink measurement and shrink control programs operate at peak levels is an ongoing process. One way to give these initiatives a significant boost is to measure the service provided by your inventory audit team.

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Making Sense of Outsourcing

Making Sense of Outsourcing Making Sense of Outsourcing

Making Sense of Outsourcing

It doesn’t matter what industry you research, everybody is outsourcing one service or another. Business management and profitability gurus like Tom Peters, and others, all make the argument to focus on what you do best, and leave tasks that are not part of your core business to specialists in those fields.

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A Sad but True Story… “I’m Happy with My Audit Service.”

A Sad but True Story… “I’m Happy with My Audit Service.” A Sad but True Story… “I’m Happy with My Audit Service.”

A Sad but True Story… “I’m Happy with My Audit Service.”

In recent years, Quantum Services has acquired other inventory audit firms. Here are the sad but true facts and comments from store operators who used those firms. The story goes basically like this: prior to transitioning to Quantum, store operators were satisfied, even very happy with their audit service. What they didn’t understand, but came […]

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Thank you, Jack Welch, for the Reality Check.

Thank you, Jack Welch, for the Reality Check. Thank you, Jack Welch, for the Reality Check.

Thank you, Jack Welch, for the Reality Check.

A favorite piece of advice we got from Jack is to make sure every smart person and every dollar is invested in growth and competitiveness, not in expensive support functions. Jack often explained his thinking during the famous “workout” sessions in Crotonville, NY, in interviews, and in his books. As a part of our celebration […]

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Theft by Employees: What to Look For… What to Do!

Theft by Employees: What to Look For… What to Do! Theft by Employees: What to Look For… What to Do!

Theft by Employees: What to Look For… What to Do!

Profits lost due to employee theft make up the largest percentage of shrink (approximately 75%). This “tip sheet” will help you address the most common situations related to theft by employees. For more comprehensive information and free copies of training materials, see the information at the end of this publication.

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People Management: Hiring C-Store Employees

People Management: Hiring C-Store Employees People Management: Hiring C-Store Employees

People Management: Hiring C-Store Employees

You have the applications for the open position in your store and have set up the interviews… now what?

Follow your company’s procedures for hiring new employees, and consider these step-by-step suggestions to help you make the most of the interviews.

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Value of Item-Level Hybrid Audits

Value of Item-Level Hybrid Audits Value of Item-Level Hybrid Audits

Value of Item-Level Hybrid Audits

Over the past 20 years, there has been progress toward item-level scan audits, in which every SKU in the convenience store is scanned as a unique auditable item. Our experience indicates about 70% of c-store operators have not chosen to implement full-store item-level scanned inventory audits. They rely on the industry standard of financial audits, which count categories of products (such as “soda”) rather than very specific individual items (Diet Coke vs. Cherry Coke vs. Coke Classic, etc).

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Making Sense of Your Audit Data

Making Sense of Your Audit Data Making Sense of Your Audit Data

Making Sense of Your Audit Data

Did you know a typical convenience store retail audit requires more than 50,000 individual keystrokes? If you printed out each entry made by the auditors, your report would be more than 100 pages. While no one looks at that level of detail, how do you decide who looks at what? And what is the right amount of data to look at?

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Gasoline Drive-Offs Explode

Gasoline Drive-Offs Explode Gasoline Drive-Offs Explode

Gasoline Drive-Offs Explode

A number of C-stores with fuel service have noted an alarming increase in run-offs and drive-offs.

Most drive-offs are people who either don’t have the money to pay for fuel, or who steal for thrills. Gas thefts usually occur when the fueling area and/or the inside store are busier than usual.

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