Andrew Hoeft

Andrew Hoeft is the Founder and CEO of Pinpoint Software, the parent company behind Date Check Pro, the grocery industry's most innovative expiration date management software. Date Check Pro's goal is to reduce product shrink so grocers can operate at peak efficiency and deliver a better shopping experience. He is also a strong advocate for food waste prevention initiatives, including Pinpoint’s own Stop Waste Together program.

Articles by Andrew Hoeft

• The impact of shrinkage in grocery stores and how to fight it

  Tuesday, October 13, 2020

  According to industry surveys, retail shrink ranges from 1.7% to over 3% of total sales, with grocery stores operating on the highest end of that range according to FMI’s 2019 Food Industry Speaks study. Beyond direct inventory dollar costs, grocers also experience increased labor costs and lower customer satisfaction as a result of shrink. The COVID-19 pandemic has delivered a temporary Band-Aid to grocers as the sales surge masks underlying root causes and symptoms. However, in time, the pandemic will pass and grocery shrink will rise north of 3% again, unless today’s profits are invested into preventative, long-term shrink savings strategies and technologies.