Inventory Management and Store Operations Flashcards

Which of the following is a CVS associate's responsibility when it comes to loss prevention on the store floor?

Answer: Remaining alert, greeting customers, and reporting suspicious behavior to management or loss prevention

Associates help deter theft by staying alert, providing good customer service, and reporting concerns to management or LP personnel — never by physically detaining individuals.

A customer brings an item to the register that has no barcode or price tag. What is the BEST course of action for the cashier?

Answer: Call for a price check using the appropriate store communication channel before completing the transaction

The cashier should request a price check through the appropriate channel to ensure the correct price is charged and the transaction is accurate.

In a CVS store, what does 'shrink reduction' training typically emphasize for associates?

Answer: Recognizing potential theft, maintaining accurate counts, and following proper procedures to minimize inventory loss

Shrink reduction training focuses on preventing and detecting theft, minimizing administrative errors, and following procedures that protect inventory accuracy.

When a CVS store receives a markdown directive from corporate for certain products, what should the associate do?

Answer: Update the shelf tags and system prices to reflect the new markdown promptly and accurately

Associates must promptly update both the physical shelf labels and the POS system to reflect corporate-directed markdowns to ensure pricing consistency.

What is the purpose of a 'negative on-hand' in CVS's inventory system?

Answer: It signals that more units were sold or removed than what the system had recorded, pointing to a data discrepancy

A negative on-hand balance means the system shows fewer units were available than were actually sold, indicating a receiving, counting, or scanning error that must be investigated.

An associate at CVS notices that a significant quantity of a seasonal product is still in the stockroom as the season ends. What is the BEST course of action?

Answer: Inform the store manager so the product can be marked down, transferred, or returned per company policy

Excess seasonal inventory should be flagged to management so they can apply markdowns, arrange inter-store transfers, or process vendor returns according to CVS procedures.

Which of the following practices BEST supports accurate inventory records at a CVS store on a daily basis?

Answer: Consistently following receiving procedures, scanning all items correctly, and promptly reporting discrepancies

Daily accuracy is maintained by rigorously following receiving protocols, scanning every item properly at POS, and reporting any discrepancies to a supervisor immediately.