Generally, a freshness code indicates the sell by date or date where the food is no longer guaranteed, although it may still be edible. There are no uniform or universally accepted descriptions used on food labels for open dating in the United States. As a result, there are a wide variety of phrases used on labels to describe quality dates.
Slotting is the process of organizing a warehouse or shelf to maximize space and make picking more efficient. Efficient slotting can also improve inventory management processes and reduce overall warehousing costs. Slotting is often organized by SKU number, product type, or any other type of product characteristic.
A membership retail/wholesale hybrid with a varied selection and limited variety of products presented in a warehouse-type environment. These approximately 120,000 square-foot stores have 60% to 70% GM/HBC and a grocery line dedicated to large sizes and bulk sales. Memberships include both business accounts and consumer groups, e.g., Sam’s Club, Costco, and BJ’s.
Introduced to the grocery industry in 1973, the UPC is a machine-readable symbol printed on or applied as a label to consumer packaging for scanning at the retail point of sale to facilitate check-out and enable associated IT processes.
A traditional supermarket refers to stores offering a full line of groceries, meat, and produce with at least $2 million in annual sales and up to 15% of their sales in GM/HBC. These stores typically carry anywhere from 15,000 to 60,000 SKUs (depending on the size of the store), and may offer a service deli, a service bakery, and/or a pharmacy.
Temporary Price Reduction (TPR) is the act of either directly or indirectly lowering the price per unit of a product. Examples include “cents off” promotions, where manufacturers or retailers temporarily reduce the price of a product, and Bonus Pack promotions which offer extra product for free. A price discount of short duration. Usually funded with brand trade promotion dollars.