Inventory Loss: Guarding Yourself Against Theft and Error

INVENTORY LOSS

GUARDING YOURSELF AGAINST THEFT AND ERROR

When it comes to managing your inventory, preventing inventory shrink should be on the top of your list. Whether you’re dealing with theft or human errors, inventory loss can turn into one of your top inventory costs. But what if we told you there were ways to prevent massive loss?

Store Improvements

Invest in a POS and inventory management system to eliminate losses by having full visibility into your inventory.

Conduct physical inventories so that you have the most accurate count and catch any errors you might have made inputting new inventory.

Install sufficient security to be able to pinpoint who might be causing your inventory loss.

Employee Improvements

Be selective in your hiring to ensure you can trust all of your employees.

Better training will help your employees master using your POS and inventory management system to reduce loss through human error.

Interact with every customer to offer a personalized experience and give each shopper an identity to make them less likely to steal from you.

Vendor Accountability

Invoice matching helps ensure no mistakes were made and you received everything you were charged for.

Audit your orders to make sure you’re not missing inventory and everything is in good condition.

To learn more about preventing inventory loss

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