Business of Retail Credentialing Review

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Rivalry between or among businesses that offer similar types of goods or services

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Direct Competition

Front

interconnected system of approaches for meeting the goal of retailing to provide customers with merchandise they want.

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Retail Ecosystem

Front

Complete listing of all merchandise a retailer owns

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Total Inventory

Front

Number of units within the total inventory that are available to sell

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Available or on-hand inventory

Front

Uses a chip in a tag or label to store information, and information is transmitted from, or written to, the tag or label when the chip is exposed to the correct frequency of radio waves.

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RFID (radio frequency identification)

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The loss of inventory that occurs because of theft, damage, and errors

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Inventory Shrinkage

Front

Point of sale system - inventory tracking system that keeps track of items sold

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POS

Front

a merchandise inventory determined by keeping a continuous record of increases, decreases, and balance on hand

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Perpetual Inventory

Front

A merchandise inventory determined by counting, weighing, or measuring items of merchandise on hand, using a predetermined schedule.

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Periodic Inventory

Front

Loss caused by deliberate or unintentional human actions "shrink" - 2016 it was over $50 billion

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Preventable loss