Employees can cause inventory shrinkage too… – Atlanta Georgia

I recently interviewed an employee of a large retailer that had contributed quite readily to the inventory shrinkage of that store, in a short amount of time.  He had a friend of his that was a cashier give him an expensive gaming system by pretending to ring it up at the register.  When a week or so passed and they were never caught, he let his friends know.

His friends just had to go through his register when he was working, and they received gaming systems, movies, clothing, etc.  By the time I interviewed him the thefts had only been going on for about three weeks, and the total loss was estimated at over $1500.

This type of inventory shrinkage is common among retailers, and can be difficult to identify unless you have good procedures in place to track your inventory.  In this case, an alert electronics employee alerted asset protection that there were missing gaming systems that had not been sold.  The inventory loss was identified resulting in these thefts being stopped relatively quickly.

A business owner can prevent retail theft like this by keeping track of your inventory, especially high ticket and high theft items that are desirable to thieves.  By randomly checking these items as often as possible, and comparing the quantities on the books to sales and physical inventory, an  inventory loss can be identified quickly after it has occurred, minimizing the total loss experienced by the business.

Inventory shrinkage results in lost profit.  We are in business to make a profit, not to incur a loss through shrinkage.  Quickly identifying the cause of the inventory loss , such as a thieving employee, and eliminating it is the best way to stop this type of inventory shrinkage . 

Your aggressive business attitude is the first line of defense to prevent retail theft !

For more information about inventory shrinkage or inventory loss contact us at: prevent retail theft or call 1.866.914.256 – Atlanta Georgia

Posted November 29th, 2010 by Staff Writer and filed in prevent theft

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