![]() ![]() Stock is constantly found near exits or loading bays.Important documentation (such as invoices) are missing or appear as duplicates rather than originals.Certain team members avoid taking their annual leave.Staff rumours suggest theft is taking place.Sales seem to dip on days when particular staff are on duty.Your stock levels don’t match your sales records. ![]() Look out for the following red flags that could indicate warehouse theft: Without regular stock takes, you may not even notice that inventory levels are shrinking suspiciously until months down the line - by which time you’ll be hemorrhaging cash. The more accurate your inventory data, the faster you’ll pick up on theft. ![]() The best way to identify theft in your warehouse is to conduct regular stock takes. Holiday weekends saw a 40 per cent increase in cargo theft cases, probably due to large shipments in anticipation of holiday sales” reports LPM Insider. Warehouse locations remained the most commonplace for cargo theft. Facility thefts saw a 98 per cent increase in theft rate and a 266 per cent increase in theft value. “Incidents involving the theft of full truckloads continued as the most prevalent method of cargo theft in the third quarter of 2016, representing 78 per cent of all reported thefts with an average loss of $120,298. There are many reasons why you’re experiencing inventory loss - as you can see in the diagram below: Inventory shrinkage in your warehouse is normal, within certain limits. Once you have these processes down pat, you can assess where your stock is going: Missing stock vs. Not only is this a more productive and efficient method of inventory control, it’s easier to spot theft because you can spot discrepancies sooner rather than later. You simply count small subsets of inventory in various locations in your warehouse, on an immediate, daily or weekly basis. The main benefit of cycle counting is that it doesn’t require you to shut down your entire business.Ĭycle counting ensures that your inventory is frequently checked for accuracy - without interrupting your operations. Your WMS allows you to be more flexible in your warehouse, moving from traditional stock take methods to cycle counting. cycle counting, and how they help to prevent warehouse theft Start tackling warehouse theft by ensuring you can spot it:Įnsure that your inventory is correctly tracked so that you can tell the difference between the types of losses you may suffer, by combining stock takes and cycle counts to accurately assess your inventory on the books. It takes a combination of strong processes, security systems, warehouse management software and excellent hiring criteria to reduce theft in your business. That said, there’s no single, simple solution to prevent warehouse theft. This goes with the territory in all regions, including the Middle East and Africa, and reducing the cost of these losses is entirely possible with the right tools and processes. Most businesses with warehouse components suffer a great deal loss due to inventory shrinkage caused by theft within the warehouse, by their own internal employees. ![]()
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