By King Rogers and Mike Knievel, King Rogers Group
Some folks like to lump all forms of loss and profit erosion into the term shrink. But, for consistency, we define "shrink" as inventory loss. After all, the latest University of Florida NRSS (National Retail Security Survey) reported shrink of $33.49 billion for the most recent full year, and that didn't include cash loss, credit card chargebacks, Internet fraud, or check losses. But, those losses also affect the bottom line and are added into Total Cost of Loss Control Ownership, a discussion topic for another time.