How can you minimize inventory theft and improve security?

En la mayoría de las veces, esto ocurre por la falta de supervisión. Debe existir un seguimiento continuo de lo que se tiene en el sistema y en físico. El uso de una herramienta tecnológica seria de mucha ayuda por lo que deberá tener los filtros necesarios de control.

The first step is to divide the entire value chain into inventory zones. Each zone should be identified in the ERP. Movement into and out of the zone should be based on an entry to that effect in the ERP. Each such zone should be in the ownership of one individual, who will have to periodically match the physical and system stocks (typically using bar code scanners) and update. This period should be as frequent as possible. Thus with a system driven Inventory Zone identification, location tracking systems, barcodes and perpetual inventory system which is not manual, but with automation as in bar codes, we eliminate the human element and thus reduce the scope for theft.

In order to maintain profitability and operational efficiency, businesses must control inventory theft. Inventory theft can be prevented and managed by following these strategies: Only authorized personnel should have access to inventory storage areas. Monitor and control entry using key cards, biometric scanners, or other access control measures. Before hiring potential employees, conduct thorough background checks, especially for positions with access to inventory. Educate employees on security protocols and the consequences of theft. Ensure that inventory management and theft policies are clearly communicated. Keep accurate records and explain the serious consequences of theft to employees.

Camera monitoring system in high theft areas. These can be motion sensors. Weekly and daily inventory monitoring and cycle counts.

The biggest thing overlooked here is concerning internal controls. Have internal controls in place to track employees, merchandise, and money.

In my experience in restaurants I would first pull up orders that came in. Then check the area where it normally would be. If it isn’t there. Research. Was the count correct last week? If so then go to a daily count. Day and night. Chances are it is happening at night. Everyone one is ready to leave and less eyes watching. Limited key access liquor in management office. Empty bottle swap out. Also let your employees know what is happening. Almost always they will let you know.

In My experience inventory loss comes from failure to maintain a disciplined process. 1. Identify the local thieves and provide them exceptionally/Smothering customer service. 2, the managers should be reviewing returns daily. Checking for resealable of items and ensuring company policies are being met. Managers should be insisting on excellence in inventory management starting with a neat and orderly accountable back stock and stock room layout. Daily review of these critical locations will pay huge dividends and only takes minutes. Cycle counts must be a continuous focus point. With the increase of buy on line pickup in store inventory accuracy is a top priority. When a discrepancy occurs ask questions and review sales & order hist.

O roubo de stock pode acontecer em diversas fases do processo de venda. Por vezes acontece em simultâneo em diversas fases. Implementar um bom sistema e procedimentos de controlo interno permite minimizar o roubo em algumas dessas fases e permite identificar as fragilidades do processo de venda na óptica do roubo. A fase em que menos se consegue identificar o roubo é na fase em que o produto está exposto para venda ao cliente, porque aqui já há um fator externo (cliente) aos procedimentos e controlos internos. Aqui poderão ser úteis os alarmes magnetizados, que pelo seu custo só se justifica a sua utilização em produtos mais dispendiosos para a empresa, onde a perda é maior.

The presence of high definition cameras and trip sensors as well as RFID tags that ruin the merchandise and marks thieves if not properly removed

Automated locked displays that require authorized entry of course tracked and stored using AI to keep track of individual facial features, tracking habits or MO in store to position staff boots on ground to prevent the individual in question from exploiting gaps in security to reposition assets

Totalmente de acuerdo, restringir el acceso al personal solo autorizado y ejecutar revisiones periodicas permiten la deteccion de diferencias entre el inventario fisico teorico, logrando tambien disuadir dentro del personal la idea de aprovecharse de los recursos de la empresa mediante el hurto

Employ a combination of physical and technological security measures. This may include surveillance systems, access controls, secure storage areas, and inventory tracking technologies such as RFID or barcoding.

I’m a big supporter of having your associates be an additional set of eyes. A store AP should be involved and conduct an AP portion of any new hire orientation. Introduce yourself and your experiences. I always encourage them to help me in spotting any potential theft issues whether it’s internal or external. Those that help deter theft, celebrate them publicly.

Best way to keep your staff engaged about theft is through regular training. This can be done by creating training programs or videos that they have to watch every few months. Upon watching the video, have them answer a quiz and acknowledge they understand the policies.

When it comes to process implementation if team members are not on board or aware of importance they won’t participate. Share examples of benefit, reasoning and importance. Make process’ easy to comply with. (Dictators fail)

Alert loss prevention staff is your number one asset, you want to test for pattern catchers and watch first people not over talkative dress as bathroom attendants or inventory workers out on the floor stocking in big ticket areas and near exits to give yourself a last line maybe receipt checking a funnel exit setup

Un ambiente positivo contribuye mucho a ello, ahora como puedes educar al personal, motivarlos y crear sentido de pertenencia al mismo tiempo? La implementacion de indicadores de gestion donde mediante un % de cumplimieto se recompense el logro con actividades de recreacion y renociendo a los compañeros con mejor desempeño es clave para el cumplimiento de las politicas de la empresa.

Provide comprehensive training to employees on security protocols and the importance of inventory protection. Fostering a culture of accountability and integrity through motivation and recognition can deter internal theft.

Creating an audit program to audit vendors and their merchandise is critical at this stage. Primary objective is to make sure what the vendor bills you for is being delivered.

Totalmente de acuerdo, la transparencia en los procesos y los buenas relaciones con clientes y proveedores conlleva genera confianza adicional que esta cercania contribuya a ese sentido de pertenencia donde todos respetan politicas y procesos

Collaborate with vendors and customers to enhance overall supply chain security. Implementing shared security standards and protocols can reduce the risk of theft at various points in the supply chain.

In addition to inventory analysis techniques, it's crucial to establish comprehensive safeguards that involve all levels of the organization, from workers to middle management and executive leadership. This multi-tiered approach ensures a holistic perspective on security. Consider implementing a "what if" scenario plan for when anomalies are detected. This collaborative effort enables swift response and accountability across the board, enhancing security measures and reducing the risk of inventory theft. By involving all stakeholders and having a robust response plan, you fortify your inventory security, making it a proactive, organization-wide effort to combat theft and inefficiency.

Adicionalmente dentro de la técnica de ABC que en su mayoría la usamos en un análisis basado en el costo debemos realizar un seguimiento basado en rotación, es decir, los productos con mayor rotación deberían ser inventariados semanalmente, los productos de rotación intermedia de manera quincenal y los de baja rotación de manera mensual, toda esa técnica podríamos utilizarla para realizar el inventario periódicamente basado en familias hasta cubrir el total de inventario.

Training and building a "Culture of Control" is an important aspect of any profit-driven business. Certainly, implementing inventory analysis techniques is a crucial step in minimizing inventory theft and optimizing overall inventory management. Implement a continuous improvement process to refine inventory management practices based on ongoing analysis and feedback. By incorporating Barmetrix into your inventory management strategy, you can enhance your ability to detect and prevent inventory theft while optimizing overall inventory performance.

Considero importante analizar la evolución de las adquisiciones y consumos ya que cualquier variación alertaría de posibles robos. Tener inventario justo y necesario para la producción, además de tomas de inventarios rotativos ayudaría a minimizar el impacto de faltantes.

Review all shipments against order and receiver. Immediately ask for credit when discrepancies occur,and they will occur. (To error is human, don’t assume it was intentional)

Utilize advanced inventory analysis techniques, such as ABC analysis, to categorize items based on their value and importance. This allows for targeted security measures for high-value items and helps prioritize resources.

Inventories appear in two dimensions in systems. One is the derived inventory based on receipt and back flush based on production, which is the basis of balance sheet value of inventory. Another is the inventory in physical locations. An algorithm to continuously match the system inventory and physical inventory (based on a robust location tracking systems), will identify deviations immediately. Further, the norms of inventory should be scientifically arrived at using a plan for every part or FMEA techniques. Ordering fresh material only based on the norms triggering the replenishment. If the floats (buffers) are just enough to cover lead times, any missing inventory will immediately get highlighted and trigger corrective actions.

Regularly review and update inventory policies to adapt to changing threats and technologies. Ensure that policies address not only physical security but also cyber threats related to inventory data.

From my personal experience perpetual inventory monitoring had been a profound tool to not only improve your uptime but also prevents pilferage. I was highly benefited when I implemented it successfully Strongly recommended!

Below tools can also be implemented in controlling the theft 1) Periodical Quantity reconciliation of each material and the products. 2) Set standard BOM for manufacturing items. Cross verify the actual consumption against the standards. Monitor input output ratios.

Inventory pilferage can be avoided by reducing the number of handoffs/touch points in the supply chain. This helps reduce the number of hands that come in contact with the shipment. Furthermore, cycle counting on a regular basis can help detect variation between system count vs physical count early. GPS and RFID technologies can also be used to know the exact location of the inventory. Lastly, installing cameras and security checkpoints within the facility can help reduce inventory theft.

Implementing and discussing "what if" or worst case scenarios with inventory control teams goes a long way for the team to catch or predict issues with inventory integrity. Providing IC teams with tools to monitor inventory flow in a randomizes fashion, enabling them to check inventory on the fly or in an ad-hoc fashion helps create a continual, additional workflow of constant overview of inventory integrity, performed by the people who are in one of the best positions to escalate any issues to stakeholders best equipped to resolve them.

Upgrade your CCTV and make sure you have adequate coverage. If high ticket items are not under surveillance, consider adding additional cameras to your CCTV topology.

1. Inventory managing staff needs to have a complete record of items with them. 2. Ensure the place used for holding or storage is rigged with CCTV and entry/exit points are manned by security personnel. 3. Daily Stock Reconciliation is a must and tally the same with daily inward/outward movement and item damages.