Introduction to Shrinkage
Discover what shrinkage is and the correct way to calculate basic shrinkage and tiered (or primary and secondary shrinkage). In this module, you will;
- Understand the problems caused by incorrectly calculating shrinkage
- Learn about when it is best to use budget shrinkage targets and when using recent historical data will be to your advantage.
- See the value of managing shrinkage and the return on investment that it can bring to your business.
Benchmarking is important in understanding best practice, comparing ourselves with our competitors and becoming the best, but there are many pitfalls to avoid. In this module;
- Learn different research and benchmarking methods that are available for you to use
- Find out about the best types of questions that you can ask to assist your benchmarking
- Get a plan for external benchmarking amongst your peers
Planning & Tracking Shrinkage
Deeper dive into shrinkage, historical tracking, forecasting and incorporating in long and short term planning. Understand the importance of tracking and managing your shrinkages so they are optimised for your staff. Learning outcomes include:
- How to ensure that you are able to track your shrinkage data across all time horizons: annual, Monthly, Weekly, Daily
- The benefits of shrinkage categorisation when it comes to successful tracking
- How the inter-connectedness of Shrinkage categories makes effectively managing shrinkage challenging
Introduction into shrinkage calculations, tiered shrinkage, historical tracking. Understand the importance of calculating shrinkages so they are optimised for your operation the key differences and impact on your resource requirements
- What is included in shrinkage?
- The importance of calculating shrinkage correctly.
- Which method should you use for planning, budgeting.
The Planning Wheel (plus exercise)
In this module, you will be introduced to our Planning Wheel, a device for illustrating how 100% of the time spent in your centre is being used.
- Learn the critical factors of shrinkage management and the pitfalls to avoid
- Discover the importance of forecasting human behaviour and shrinkage and how you can influence shrinkage through your work
- Complete an exercise based on your own business to help you to understand the Planning Wheel
The cost of this mini series is great value at £295 + VAT and free for students on our assisted learning pathway.
Complete the form below and we will be in touch to arrange payment if necessary.