CONTROLLING INVENTORY SHRINKAGE
Retailers everywhere are haunted by shrinkage. With theft and cash register errors being two of the main concerns, retailers constantly face the challenge of keeping their inventory up to date. Get an all-in-one POS or Point of Sale System with inbuilt inventory tracking and security features that perform accurate reporting, reconciliation, and analysis to push losses due to inventory shrinkage on a downward trend. PREVENTING THEFT AND FRAUD A bane in brick-and-mortar stores, inventory shrinkage is primarily attributed to theft and fraud. Most of these scams happen at the cash register levels, at the time of customer service, and in the warehouse. These could be in the form of fake sales, return goods fraud and purchase swindles. Minimise or even eliminate all these errors with OVERSEE POS systems About 38% of bulk inventory shrinkage is shoplifting, while employee theft is around 34.5% (data from the National Retail Security Survey – 2015). Another piece of data in t...