Product Loss means any loss of Product occurring as a result of any contamination, adulteration, mislabeling, misidentification or other loss of or damage to Product caused by the failure of the Owner to use reasonable industry procedures in the handling, testing or storage of Product.
What is loss give example?
For example, for a shopkeeper, if the value of the selling price is more than the cost price of a commodity, then it is a profit and if the cost price is more than the selling price, it becomes a loss.
How can we prevent product loss?
Yes, it is acceptable to lose profit or even money on one product, if that product is linked to or vital to the sale of another extremely profitable product. What matters to investors and shareholders is the profitability of the whole enterprise.