What is your number one shrink prevention tool?

“The best tool is that our bonuses are tied to the amount of shrink for the managers, assistant managers and head cashier. We make sure the bonus is high enough to make preventing shrink worth while.”
- T. Michael Sibley, Laplace Travel Center, LLC

“Our back-office inventory tool is our number one shrink prevention tool. It tells us things like how many items are sold and what the margins are. I also think shrink management is a dialogue. I’m constantly talking about shrink loss with my staff so that they know the impact it has on our success. I don’t have these conversations in a formal setting, but rather come in on a Saturday morning in my jeans. I think it is better to talk about it in a relaxed setting as it creates a better conversation.”
- Ron Hicks, Frog City Travel Plaza & Casino

“Our greatest tool in controlling shrink is education and training of our staff. In our stores there are many credit card options, for example Comdata and checks used as payment. If the transaction is not processed correctly and it is not one of our regular customers, it could cause a large shortage. Also, getting to know our repeat drivers is a high priority to us as this almost always eliminates issues with checks. If a check is returned for insufficient funds, they are calling us and bringing the money in as soon as possible. I have recently invited some of our regulars to join a focus group to help us serve them better. I believe relationships like this will definitely help with shrink.”
- Wanda Sheffield, Miller Oil Company

 

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This article originally ran in Stop Watch magazineStop Watch provides in-depth content to assist NATSO members in improving their travel plaza business operations.

The magazine is mailed to NATSO members bimonthly. If you are a member and not receiving Stop Watchsubmit a request to be added to the mailing list. Not a memberJoin today or submit a request to receive additional information.

Amy Toner's photo

Amy Toner

Toner markets NATSO products, services and meetings. She is the content editor of NATSO's core websites, Stop Watch magazine and Highway Business Matters biweekly articles. In addition, she provides creative services across all departments. Toner joined NATSO in 2006. Prior to joining the association, she served as director of membership services at an association for ambulatory surgery centers. Toner lives in Washington, D.C., with her husband and son. More
Source:
Stop Watch Magazine
Retailer Featured:
Frog City Travel PlazaLaPlace Travel CenterMiller Oil Company

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