HIGHLAND, IN: Strack & Van Til (SVT) – an Associated Wholesale Grocers Member – has committed to reinventing its Shrink Reduction and Prevention Practices with a target of reducing Storewide Shrink Loss by 15% in 2019 and an additional 10% in 2020.
According to Dave Wilkinson, Chief Operating Officer of SVT, “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. 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 SVT 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. Wilkinson went on to add, “After just 90 days, we are seeing real progress and are on track to achieve our goal of 15% lower Shrink Loss in Fresh Departments and Center Store and we have seen excellent improvement in cash flow from the SRS “Ultimate Inventory Optimization”. We are excited to continue improving our operating disciplines for sustained best practice execution to achieve our annualized shrink reduction and profit improvement goals.”
According to Larry Miller, President of Smart Retail Solutions and ProfitTrax, “The SVT Leadership Team is very committed to this initiative. 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.”
About Smart Retail Solutions
ProfitTrax is the flagship Profit Improvement BI and Best Practices Training Solution developed by Smart Retail Solutions. ProfitTrax is a cloud-based, SaaS, Enterprise Business Intelligence solution that guarantees sales improvement, 15% shrink reduction, customer experience improvement and sustainable store profit improvement. The ProfitTrax advanced analytics interprets store-wide data, performs multi-dimensional analysis, and produces daily Plain English “Action Alerts” using proprietary Narrative Science. For more information, please visit: http://smartretailsolutions.com or call (602) 448-8500.
About Indiana Grocery Group, LLC (dba Strack and Van Til)
Indiana Grocery Group, operates under the name Strack & Van Til, located in Highland, Indiana. IGG primarily operates in the retail Grocery Stores business and has been operating since 2017. Indiana Grocery Group employs approximately 3,000 total employees across all locations.