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Apr 10, 2023 · Shrinkage is the loss of inventory that can be attributed to factors such as employee theft, shoplifting, administrative error, vendor fraud, damage, and cashier error. Shrinkage is the...
- Will Kenton
1. : the act or process of shrinking. 2. a. : the loss in weight of livestock during shipment and in the process of preparing the meat for consumption. b. : the loss of goods especially by theft. inventory shrinkage. 3. : the amount lost by shrinkage. Synonyms. abatement. decline. decrease. decrement. dent. depletion. depression. diminishment.
a reduction in the size of something, or the process of becoming smaller: Synthetic fabrics are less susceptible to shrinkage than natural ones. Research increasingly shows a substantial thinning of Arctic ice and 5 percent shrinkage in its overall cover. See.
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Shrinkage is a type of inventory carrying cost that, like shrinkage itself, can decrease a business’s profitability. Inventory shrinkage occurs across numerous industries and at any point along the supply chain.
- Abby Jenkins
- Product Marketing Manager
noun. the act or fact of shrinking. the amount by which anything decreases in size, value, weight, etc. the loss in body weight during shipment and preparation of livestock for marketing as meat. the loss of merchandise in a retail store through theft or damage.
6 days ago · In a retail store, shrinkage is the loss of merchandise through theft or damage. Shrinkage is due to shoplifting losses, breakage, and accounting errors. The average shrinkage percentage through theft in the retail industry is about 2% of sales.
The process of shrinking, or the amount that something has shrunk, is shrinkage. You might notice the shrinkage of your hand-knit socks when you try to put them on your feet, or read about the shrinkage of the polar ice caps in school.
