| Questions | Tips and Tricks |
Is there a management review conducted daily of the team member price modification report, and is appropriate action taken?
| Price Modification reporting is located in COREPOS. Schedule this report to be emailed or printed on a daily basis from COREPOS. You cannot go back and reprint these reports. Look for any items which flag as ‘NO’ on discount. These are ‘price overrides’ and can create shrink? Look for items flagged as ‘yes’ – is the discount something you would authorize? Review training opportunities to ensure corrections are made going forward Large amounts should be submitted for an inventory correction.
|
Are all auto MUMD transactions reviewed on a monthly basis?
| The auto MU/MD system only allows users to review a month at a time. Monthly review of SKU level activity in SODA is required. Look for high quantity or a high dollar amount changes. If the error is found then submit adjustments as needed.
|
In departments 3-8, are all home office price changes on non-perpetually tracked inventory being completed as directed (as a Category Request)?
| If the markup/markdown is non-perpetual (Category/Dump SKU), the financial markdown must be submitted by the store through the store level clearance pricing application as a category request markdown. All category requests must be approved by the GM planner.
|
Select 10 titles/ items from various departments 1-8. do All prices on the shelf tag, front runners or price tickets match the price at POS?
| Shelf Price review – Select 10 items in each department. Confirm the price labeled on the shelf is the same price when merchandise is scanned at POS. Check the date on the shelf price sticker. The older the date the greater the chance the price displayed is wrong. While you might get a no with one wrong answer – it is important to complete all departments. Shelf prices need to be correct for the customers – the more errors that you find the more items you need to check.
|
Select 10 titles/items from each department, 1-8 for on-hand verification. Are there zero gross misstatements of on-hand amounts? (Differences with a retail dollar value greater than $1000).
| A gross misstatement of on hands is when the total retail value of errors on a single SKU is greater than $1000. Check large SKU quantities that are open on the RNP. Correct all negative on hands on the Negative On Hand report. Review titles with high dollar value on the Inventory Valuation report in Course Tracks.
|
Do team members who have conducted buyback during the audit have a clear understanding of the buyback grading standards?
| Buyback – Review any buyback transactions which were conducted in your store the day of your review (if none look for previous days) Who conducted the transactions? Can team members describe for you the elements of the grading standards? Is the grading standards document available in the buyback area? What are some of the elements of a counterfeit book? What would the team member say to the customer if they suspect the book to be counterfeit?
|
Does store management know how to handle books found in the store suspected of being counterfeit?
| |
Review a 10-day sample of buyback slips. Are all buyback slips completed per policy? (Name, Address, and Signature)
| Locate the last 10 slips. Do these slips contain the customer: name, address, and signature?
|
Review a 10-day sample of buyback slips. Are buyback audits performed and documented per FHE policy? Is the store placing "Used" and "99990" stickers on textbooks purchased through buyback daily?
| Does the store have a process for stickering used books? Randomly select 10 different used titles on the shelves. Do they have the proper stickers on the side and back? Does the 99990 sticker scan? Ensure rolls of stickers are located in a secure area.
|
