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Shrinkage (accounting)
In accounting, shrinkage or shrink occurs when a retailer has fewer items in stock than were expected by the inventory list. This can be caused by clerical error, or from goods being damaged, lost, or stolen between the point of manufacture (or purchase from a supplier) and the point of sale. High shrinkage can adversely affect a retailer's profit. In 2008, the retail industry in the United States experienced shrinkage rates of around 1.52% of sales.''National Retail Security Survey'' (2009) University of Florida During the same year, retailers in Europe and Asia Pacific reported average shrinkage of about 1.27% and 1.20% of sales, respectively.''Global Retail Theft Barometer 2008'' Causes According to the 2008 National Retail Security Survey conducted at the University of Florida, a shrinkage rate of 1.51% translates to $36.3 billion in annual loss ($15.5 billion to employee theft and $12.9 billion to shoplifters). Theft, both internal and external to the com ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Food Spoilage
Food spoilage is the process whereby food becomes unsuitable to ingest by a person; it is a matter of food safety. Bacteria and various fungi are the causes of spoilage, and can create serious consequences for consumers, but there are preventive measures that can be taken. The precise cause of the process is due to many outside factors as a side-effect of the type of product it is, as well as how the product is packaged and stored. Food spoilage is the reason for food preservation, to extend shelf life. Processed meat, Meat is processed, Frozen food, food is frozen, and Canning, food is canned. Due to spoilage, one-third of the world's food produced for human consumption is lost every year. Bacteria Some bacteria are responsible for the spoilage of food. When bacteria breaks down the food, acids and other waste products are generated in the process. While the bacteria itself may or may not be harmful, the waste products may be unpleasant to taste or may even be harmful to one's ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Security Guard
A security guard (also known as a security inspector, security officer, factory guard, or protective agent) is a person employed by a government or private party to protect the employing party's assets (property, people, equipment, money, etc.) from a variety of hazards (such as crime, waste, damages, unsafe worker behavior, etc.) by enforcing preventative measures. Security guards do this by maintaining a high-visibility presence to deter illegal and inappropriate actions, looking (either directly through patrols, or indirectly by monitoring alarm systems or video surveillance cameras) for signs of crime or other hazards (such as a fire), taking action to minimize damage (such as warning and escorting trespassers off property), and reporting any incidents to their clients and emergency services (such as the police or emergency medical services), as appropriate. Security officers are generally uniformed to represent their lawful authority to protect private property. Securit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Retail Loss Prevention
Retail loss prevention (also known as retail asset protection) is a set of practices employed by retail companies to preserve Profit (accounting), profit. Loss prevention is mainly found within the retail sector but also can be found within other business environments. Retail loss prevention is geared towards the elimination of preventable loss. Most companies take this traditional approach by either having their own in-house loss prevention team or using external security agencies. Shrink Items that are unaccounted for compared to what the inventory system believes the store should have are losses or "shrink". Shrink is caused by operational errors, internal theft, and external theft. Retail loss prevention is responsible for identifying these causes and following up with training, preventing, investigating, responding to and resolving them. According to the 2018 Federal National Retail Security Survey, the average Shrink % for US Retailers is 1.33%. Global Shrink Rates Avera ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Breakage (accounting)
In telecommunications and accounting, breakage is any type of service which is unused by the customer. A good example would be gift cards or calling cards that have been sold but never redeemed. Revenue from breakage is almost entirely profitable, since companies need not provide any goods or services for unredeemed gift cards. It is distinct from shrinkage, which refers to items which are not used by the customer because they disappeared from inventory. Another example of breakage can be found in traveler's checks, which were widely used before credit cards and other modern payment methods became more common. Companies like American Express and Thomas Cook Group profited from breakage in two key ways: through ''float income'', where the issuer invests the funds from unredeemed checks, and from checks themselves going permanently unused. The longer the checks remained unredeemed, the more interest the issuer could earn, leading to substantial financial benefits. This practice ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Acceptable Loss
An acceptable loss, also known as acceptable damage or acceptable casualties, is a military euphemism used to indicate casualties or destruction inflicted by the enemy that is considered minor or tolerable. In combat situations, leaders have to often choose between options where no one solution is perfect and all choices will lead to casualties or other costs to their own troops. A small scale practical example might be when the advancement of troops is halted by a minefield. In many military operations, the speed of advancement is more important than the safety of troops. Thus, the minefield must be "breached" even if this means some casualties. On a larger strategic level, there is a limit to how many casualties a nation's military or the public are willing to withstand when they go to war. For example, there is an ongoing debate on how the conceptions of acceptable losses affect how the United States conducts its military operations. The concept of acceptable losses has also ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
University Of Florida
The University of Florida (Florida or UF) is a public university, public land-grant university, land-grant research university in Gainesville, Florida, United States. It is a senior member of the State University System of Florida and a preeminent university in the state. The university traces its origins to 1853 and has operated continuously on its Gainesville campus since September 1906. After the Florida state legislature's creation of performance standards in 2013, the Florida Board of Governors designated the University of Florida as a "preeminent university". The University of Florida is one of three members of the Association of American Universities in Florida and is Carnegie Classification of Institutions of Higher Education, classified among "R1: Doctoral Universities – Very high research spending and doctorate production". The university is Higher education accreditation in the United States, accredited by the Southern Association of Colleges and Schools (SACS). ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Price Override
A price override is a feature of a retail management system which allows an authorised person to change the automated price of a product or service, in order to apply a discount. Price overrides occur for a variety of reasons. One common reason is to discount damaged goods. Another is employee discount and discounts given to other groups. An override may also be necessary due to the displayed price of an item not matching the price shown at the register. This can occur when staff have not caught up with changes to the display caused by recent price changes on the retail management system, or it may simply be a mistake. The customer is then given the old price for goodwill, or for legal reasons. Other reasons include coupon In marketing, a coupon is a ticket or document that can be redeemed for a financial discount or rebate when purchasing a product. Customarily, coupons are issued by manufacturers of consumer packaged goods or by retailers, to be used in ... red ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shelf Life
Shelf life is the length of time that a commodity may be stored without becoming unfit for use, consumption, or sale. In other words, it might refer to whether a commodity should no longer be on a pantry shelf (unfit for use), or no longer on a supermarket shelf (unfit for sale, but not yet unfit for use). It applies to cosmetics, foods and beverages, medical devices, medicines, explosives, pharmaceutical drugs, chemicals, tyres, batteries, and many other perishable items. In some regions, an advisory ''best before'', mandatory ''use by'' or ''freshness date'' is required on packaged perishable foods. The concept of expiration date is related but legally distinct in some jurisdictions. Background Shelf life is the recommended maximum time for which products or fresh (harvested) produce can be stored, during which the defined quality of a specified proportion of the goods remains acceptable under expected (or specified) conditions of distribution, storage and display. Accordi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Electronic Article Surveillance
Electronic article surveillance (EAS) is a type of system used to prevent shoplifting from retail stores, pilferage of books from libraries, or unwanted removal of properties from office buildings. EAS systems typically consist of two components: EAS antennas and EAS tags or labels. EAS tags are attached to merchandise; these tags can only be removed or deactivated by employees when the item is properly purchased or checked out. If merchandise bearing an active tag passes by an antenna installed at an entrance/exit, an alarm sounds alerting staff that merchandise is leaving the store unauthorized. Some stores also have antennas at entrances to restrooms to deter shoppers from taking unpaid-for merchandise into the restroom where they could remove the tags. History EAS tags that could be attached to items in stores were invented by Arthur Minasy in 1964. He filed a patent for his "Method and Apparatus for Detecting the Unauthorized Movement of Articles" in 1965 with the patent ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
IP Camera
An Internet Protocol camera, or IP camera, is a type of digital video camera that receives control data and sends image data via an IP network. They are commonly used for surveillance, but, unlike analog closed-circuit television (CCTV) cameras, they require no local recording device, only a local area network. Most IP cameras are webcams, but the term ''IP camera'' or netcam usually applies only to those that can be directly accessed over a network connection. Some IP cameras require support of a central network video recorder (NVR) to handle the recording, video and alarm management. Others are able to operate in a decentralized manner with no NVR needed, as the camera is able to record directly to any local or remote storage media. The first IP Camera was invented by Axis Communications in 1996. History The first centralized IP camera, the ''AXIS Neteye 200'', was released in 1996 by Axis Communications. Although the product was advertised to be accessible from any ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Theft
Theft (, cognate to ) is the act of taking another person's property or services without that person's permission or consent with the intent to deprive the rightful owner of it. The word ''theft'' is also used as a synonym or informal shorthand term for some crimes against property, such as larceny, robbery, embezzlement, extortion, blackmail, or receiving stolen property. In some jurisdictions, ''theft'' is considered to be synonymous with '' larceny'', while in others, ''theft'' is defined more narrowly. A person who engages in theft is known as a thief ( thieves). ''Theft'' is the name of a statutory offence in California, Canada, England and Wales, Hong Kong, Northern Ireland, the Republic of Ireland, and the Australian states of South Australia Theft (and receiving). and Victoria. Theft. Elements The '' actus reus'' of theft is usually defined as an unauthorised taking, keeping, or using of another's property which must be accompanied by a '' mens rea'' of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shoplifting
Shoplifting (also known as shop theft, shop fraud, retail theft, or retail fraud) is the theft of goods from a retail establishment during business hours. The terms ''shoplifting'' and ''shoplifter'' are not usually defined in law, and generally fall under larceny. In the retail industry, the word '' shrinkage'' (or ''shrink'') is used to refer to merchandise often lost by shoplifting. The term ''five-finger discount'' is an euphemism for shoplifting, humorously referencing stolen items taken "at no cost" with the five fingers. The first documented shoplifting started to take place in 16th century London. By the early 19th century, shoplifting was believed to be primarily a female activity. In the 1960s, shoplifting began to be redefined again, this time as a political act. Researchers divide shoplifters into two categories: boosters (professionals who resell what they steal), and snitches (amateurs who steal for their personal use). Shoplifters range from amateurs acting on ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
