Indiana-based grocer Strack & Van Til has set a target of reducing storewide shrink loss by 15 percent in 2019 and an additional 10 percent in 2020.
“We are working to grow store sales and reduce shrink by using the smartest technology and best practices training for store team effectiveness and optimal productivity,” Strack & Van Til COO Dave Wilkinson said. “Our focus is on delivering a great in-store shopping experience while operating at optimal shrink loss levels. We have engaged with Smart Retail Solutions and ProfitTrax—led by Larry Miller and Dawn Gammon—because we believe they’re among the industry’s most operationally effective and cost-efficient profit improvement experts.”
The Strack & Van Til shrink mitigation team initiative includes on-premise operational assessments in all departments, use of the ProfitTrax Solution by all members of the operations and merchandising teams, and a specialized best practices training for profit improvement.
“After just 90 days, we are seeing real progress and are on track to achieve our goal of 15 percent lower shrink loss in fresh departments and center store, and we have seen excellent improvement in cash flow from the SRS Ultimate Inventory Optimization,” Wilkinson said. “We are excited to continue improving our operating disciplines for sustained best practice execution to achieve our annualized shrink reduction and profit improvement goals.”
“The SVT Leadership Team is very committed to this initiative,” said Larry Miller, president of Smart Retail Solutions and ProfitTrax. “By implementing ProfitTrax, enabled by the SRS Ultimate Inventory Optimization processes, their operations and merchandising teams are energizing all store associates to be part of the growth strategy. When store teams are properly energized and have the best tools to do their job, great things can happen, quickly.”
ProfitTrax is the flagship Profit Improvement Business Intelligence and best practices training solution developed by Smart Retail Solutions. ProfitTrax is a cloud-based, SaaS, Enterprise BI solution that guarantees sales improvement, 15 percent shrink reduction, customer experience improvement and sustainable store profit improvement.
Indiana Grocery Group operates under the name Strack & Van Til, located in Highland, Indiana.