November 30th 2023 11:00:00 AM
3 Quick Tips to Reduce Inventory Shrinkage
November 7th 2019 16:00:00 PM
Did you know that inventory control software can help you reduce inventory shrinkage? Shrinkage plagues even the best-run warehouses. With these three tips and the right inventory control software, you can greatly reduce shrinkage and money lost.
Three Tips to Reduce Inventory Shrinkage—Do These Now
If you can use the data from your inventory control software to figure out where shrinkage occurs, you can then take steps in the right place to stop it from occurring. But, it’s not always possible to figure out if you’re losing inventory from poorly processed returns, theft, or items still sitting on the loading dock.
These three tips can help you reduce shrinkage by closing any gaps that may be exploited by warehouse workers.
- Issue badges: Scannable employee badges or swipe cards ensure that only authorized personnel have access to the warehouse. You can then check shrinkage against personnel in the warehouse and see if there’s any correlation between who is there and when things go missing. Sure, we’d all like to trust our teams, but not everyone is trustworthy.
- Protect expensive inventory: Items with higher value should be kept in a highly visible, locked location. Only allow access to a handful of team members and require people to swipe their badges before removing items from the inventory area.
- Perform frequent physical inventory checks: The best defense is a good offense, or so they say. One way to prevent shrinkage is by random physical inventory checks. Using inventory control software from Scanco makes it easy to perform random physical inventory checks as well as scheduled inventory counts. Random checks keeps people on their toes and discourages temptation.
The Value of Inventory Control Software to Prevent Shrinkage
The right inventory control software can make it much easier to be proactive at preventing shrinkage. Warehouse 100 from Scanco offers an easy to use solution with the convenience you want when looking for ways to improve the way you manage your inventory. It integrates seamlessly with Sage 100 and runs on Android and iOS devices
If you’re serious about preventing shrinkage, take the steps above and talk to us about Warehouse 100 from Scanco. It’s a great tool to make it easy to see what you have in the warehouse—and what may be missing.
Contact Scanco’s Solutions Experts at (330) 645-9959 to arrange an appointment for your consultation.