stop your inventory from sprouting legs 201205
TRANSCRIPT
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Santa Fe Springs Chamber of Commerce
Security and Safety Briefing
Stop Your Inventory from Sprouting Legs –
Proven methods for better control of your
inventory.
Uncork Your Operational Bottlenecks
. . . BooST Your Bottom Line! TM
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Theft Quiz – Part 1
• Percentage of employees who commit theft (Dept. of Justice)
• Cost to American companies annually (US Chamber of Commerce)
• Percentage of theft unnoticed (Chamber)
• Bankruptcies caused by theft (Employee Theft Solutions)
• 33%
• $20 – 40B
• 75%
• 33%
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Theft Quiz – Part 2
2007 – Walmart employee theft outpaced
shoplifters by 50%
10-20-10
10% of employees will not steal no matter
the opportunity
10% will steal no matter what’s done to
prevent theft
80% will steal depending on how they
rationalize a given opportunity
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Warning Signs
• Inventory discrepancies
• Empty boxes
• Claims of short shipments by customer
• Erratic or altered employee behavior
• Unusual traffic in/ around the area
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Want to Reduce Theft? Focus On
These Key Areas.
• Physical Environment
• Software/ Technology
• Employees
• Procedures
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Be Smart with Your Physical
Environment
Layout
Lighting
Entry/ exit
Fences/ partitions/ cages
Dock doors
Cameras/ mirrors
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Let Your Software/ Technology
Give You Greater Control Install/ upgrade your ERP/ WMS/
MRP software
Launch a perpetual
inventory program
Conduct routine
physical inventories
Improve your security systems
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Know Your Employees
Conduct background checks
Rotate responsibilities
Perform reviews regularly
Watch for shifts in attitude
Be aware of outside forces
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Employees – Myths & Misconceptions
Myths and Misconceptions
Well-paid employees are less likely to steal.
Honest and loyal employees will report other
employees who steal.
Newer employees commit employee theft,
while senior employees can be trusted.
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Procedures Offer Protection
Conduct regular cycle counts
Assure checks and balances are in place
Insist upon written Standard Operating
Procedures (SOP)
Employ slotting strategies
Control open access
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• Increased profitability
• More reliable inventory accuracy
• Higher customer satisfaction
• Regain wasted time and resources
• Improved morale
Your Benefits from Being Proactive
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More to Read on Prevention and
Security
Truck Parts & Service
“Safe & Secure” August 2009
http://www.truckpartsandservice.com
/apps/news/articletps.asp?id=80846
DRM Newsletter
“Theft Prevention” November 2009
http://www.diversifiedriskmanageme
nt.com/articles/theft-prevention.html
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We’re Here to Help. Call!
Presented by Lee Schwartz, Principal
Uncork Your Operational Bottlenecks . . . BooST Your Bottom Line! TM
12257 Sunset Park Way
Los Angeles, California 90064
Phone: 310.450.2628
www.schwartzpro.com
© 2012 All rights reserved. Schwartz Profitability Group.
8138 2nd Street, Downey, CA 90241