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Inventory shrinkage refers to when the number of products your store has on hand is less than what's recorded. Tracking your store's shrinkage gives insight into how you're losing products and the total value of the products you're losing. By managing shrinkage, you can get a more accurate look into your store's total losses and find ways to minimize your shrinkage. Read on to see how to manage inventory shrinkage in !

Shrink Reason Codes

To start, you'll need to create your Shrink Reason Codes so you will be able to add reasons for shrinkage. 

1. Click on Inventory in the main menu.

2. Click on Shrink Reason Codes.

3. In the Reason Codes Editor, enter a Reason Code Name, which will denote why an item was lost. This field is required to save the reason code.

4. You can optionally also add a Description.

5. Click on Save in the top right of the screen when you're finished.

6. Click on New to create a new Reason Code.

7. Repeat the process until you've made all of the Reason Codes you need.

Managing Inventory Shrinkage

1. Navigate to Inventory > Shrink Inventory.

2. Under Shrink a Product, select a Reason Code you've saved.

3. Enter the Quantity of the item you've lost.

4. Enter a product's name under Search For Product, or scan it in by clicking on the Code icon to the right of the Search bar
   (This will use your device's camera). Once you've selected the product, it will automatically load into the table to the right.

5. If you need to edit an item's shrinkage details, click on the item to select it; the item will be highlighted, and its details will pre-populate under Shrink a Product.

6. Edit whatever details you need. Your edits will automatically update corresponding fields in the table.

7. Alternatively, you can also remove the selected product by clicking on the Delete button.

8. After you've finished adding and editing to Shrink Inventory, click on the same Save and Export button as before that's located on the top of the page. You will lose your changes if you do not Save them.

Once you've saved your work, will automatically open a downloadable file with your shrink data.

The Shrink Report

The Shrink Report compiles and presents your inventory shrinkage data. Use the Shrink Report to quickly check what products you've lost and the total value of these losses.

To access your Shrink Report, go to Inventory > Shrink Report.

In the Shrink Report, you'll find two different tables showing shrinkage data, as in the image below. You can adjust filters using the fields above the tables. Here's how you can use them:

1. Date Range — Enter the date range for your data. 
2. Department — Filter your data by selecting a Department from the drop-list.
3. Section — Select a Section from the drop-list to narrow down the data you want to view.
4. Search — To see a specific item from this report, enter the UPC or Description. The tables will automatically show results that match whatever you enter.
5. Shrinkage Reason Code — Select a Shrink Reason Code from the drop-list. To learn how to create Shrinkage Reason Codes, read the section above about Shrink Reason Codes.
6. Item Data Table — In this table, you'll see individual items that match whatever filters you've entered, along with their UPCs, Descriptions, Departments, Shrink Number (the item quantity that was lost to shrinkage), and total dollar Shrink Costs for each item's lost inventory. By default, this table is sorted in descending order from greatest to least dollar value of shrinkage for the items. You can click on the column headers to sort or click again to reverse sort.
7. Shrink Reason Code Data Table — In the bottom table, you'll see the summary Shrinkage data that matches your filters by Shrink Reason Codes. You'll see the total number of item losses (Shrink Number) and the total Shrink Cost for each Shrink Reason Code.
8. Action Menu — Click on the Three-Dot Stack icon on the far right to open the Action Menu. From this menu, you can Export the table as a CSV or PDF file. You can also set column visibility.
   

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