Understanding Shrink: The Hidden Threat to Your Profits Shrink, or inventory shrinkage, refers to the loss of product inventory that can’t be sold. It’s the difference between the profits you should have made and what you actually made. The Two Main...
According to a recent survey, 40% of cash discrepancies are due to human errors, 25% are caused by system errors, 20% are attributed to theft and fraudulent activities, and 15% result from inadequate performance of cash counting devices. Being short on the cash...
What is Cargo Theft? Cargo theft refers to the criminal act of stealing goods during transport or storage. These thefts can occur at various points along the supply chain, including warehouses, distribution centers, and during transit. Understanding the nature of...
Why Every Retailer Needs a Shrink Action Plan Retail shrinkage is not an isolated problem; it affects businesses of all sizes across various sectors. Without a structured approach to combat shrinkage, retailers risk: Eroding profit margins Inaccurate inventory records...
This blog post will offer insights and practical tips to help retail managers, supply chain professionals, and loss prevention officers minimize warehouse losses. Understanding Warehouse Loss Prevention While specific national crime statistics on warehouse break-ins...
