Small C-Stores Explore How to Avoid Out of Stocks, Reduce Shrink

NACS education sessions will help small operators understand inventory management, loss prevention, competition and store economics.

October 22, 2020

ALEXANDRIA, Va.—Registration is now open for four NACS educational workshops aimed at helping small operators make decisions about inventory management, loss prevention, competition and store economics in conjunction with the NACS Crack the Code Experience. Mark Wells, president of LJT Management Services Inc., will facilitate the workshops, which will be held via Zoom.

Essential Inventory Management” is set for 12:30-1:30 p.m. ET on Thursday, Nov. 5. Topics will include keeping inventory fresh, new and interesting to customers, avoiding out-of-stocks and managing inventory with limited storage space. Attendees will work on shelf space analysis, incorporating the use of inventory turns and velocity reports and identifying investment in unnecessary stock. Participants will look at the inventory as if each item is a dollar bill and then decide if that dollar bill could be used better elsewhere in the store. The session is limited to 50 registrants, and all participants must be a Crack the Code Experience attendee. Register here to attend this workshop.

Protecting Profits through Loss Prevention” will be held from 12:30-1:30 p.m. ET on Thursday, Nov. 12. Information will cover the challenge of managing store shrink in 2020 and address several loss preventative measures: improved personnel practices, cash controls, store layout and implementation of store policies to reduce shrink. Exercises include auditing procedures, vendor controls and how to identify shrink. This session is limited to 50 registrants, and all participants must be a Crack the Code Experience attendee. To attend this workshop, register here.

Strategies for Adapting to a Competitive Environment” will be held from 11:30-12:30 p.m. ET on Thursday, Nov. 19. Learn the best actions to take when a new competitor moves into your area. What practices are in place so that loyal customers won’t be tempted to leave your business and go to the new retailer? This session covers pricing strategy for destination products and, of course, having Guestomer Service© that can’t be equaled by a new competitor. This training track covers cross-channel competitors and dealing with non-c-stores that sell similar products. This session is limited to 50 registrants, and all participants must be Crack the Code Experience attendees. Make sure not to miss this workshop and register here.

Understanding Store Economics” will be held from 12:30-1:30 p.m. ET on Thursday, Dec. 3. Participants will look at the day-to-day economics of a store from the manager’s perspective. Using the Eight Key Business Formulas, Benchmark Guidelines and Break-Even Analysis, participants will assist in understanding where profits come from and create case studies using shift and EOD reports. This session is limited to 50 registrants, and all participants must be Crack the Code Experience attendees. To secure your spot at this workshop, register here.

The NACS Crack the Code Experience takes place virtually, November 2 through December 4; with on-demand access continuing until December 31, 2020. Don’t delay and register for the Crack the Code Experience today!

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