Inventory loss prevention is an operational risk managemnt strategy to reduce the discrepancy between the inventory data and the actual stock. The goal is not to eliminate the loss but to reduce the amounts of preventable loss (shrinkage). There are several common causes behind inventory loss. Thefts and frauds are common, both by employees and people outside the businesses who access the inventory. Low product qualities can also cause shrinkage in inventory because the products are damaged or deteriorate. There are also cases of administrative error, mistakes in the inventory review process, or vendor fraud. Some customers may conduct return fraud, returning items to the sellers and claiming a refund despite the items not being qualified. Sometimes, the shrinkage is recorded as “unattributed losses” because the causes cannot be determined.
We provide highly trained loss prevention specialists for all types of retail outlets and factories.
Our model for outlet loss control or any point of sale (POS) are specifically designed to prevent loss without hampering efficient service.
This service has the unique feature of having a loss recovery design inbuilt in it in the event of loss.