Industry glossary
Terms you will meet in the documents, systems and scenarios.
Shrink
The difference between the stock a business should hold according to its records and the stock actually on hand, caused by theft, waste, damage and process errors.
Planogram
A diagram showing where each product is placed on a shelf or fixture and how many facings it has.
Consumer guarantee
The rights under the Australian Consumer Law that goods must be of acceptable quality, fit for purpose and match their description, which no store policy can remove.
Pharmacist only medicine
A scheduled medicine that can be supplied only after the pharmacist has spoken with the customer, stored behind the dispensary counter.
Pharmacy medicine
A scheduled medicine that a trained pharmacy assistant can supply using protocol questions, with referral to the pharmacist when required.
Cold chain
The unbroken temperature control of chilled and frozen food from receipt through storage, picking, packing and delivery to the customer.
Cycle count
A scheduled count of a portion of the range on a rotating basis so that stock accuracy is checked continuously rather than only at stocktake.
Click and collect
An online order picked by the store and held for the customer to collect at a nominated site and time.
Float
The set amount of cash placed in a point-of-sale drawer at the start of a shift to give change, counted and recorded at opening and closing.
Exception report
A point-of-sale report listing unusual transactions such as voids, refunds, discounts and manual entries, used to detect errors and fraud.