Page 4 - Logistics News - September October 2023

W A R EH OU SING

Warehouse theft prevention:

8 tips to spot and stop it

By Michael Badwi, Chief Business Officer and Founder of Supply Chain Junction

There is no single, simple solution to prevent warehouse theft. It takes a
combination of strong processes, security systems, warehouse management
software and excellent hiring criteria to reduce theft in your business.

ost businesses with warehouse components ensures that your inventory is frequently checked for
suffer a great deal of loss due to inventory accuracy – without interrupting your operations. You
M shrinkage caused by theft within the simply count small subsets of inventory in various
warehouse by their own internal employees. This goes locations in your warehouse on an immediate, daily or
with the territory in all regions, including the Middle East weekly basis. Not only is this a more productive and
and Africa, and reducing the cost of these losses is efficient method of inventory control, but it’s also easier
entirely possible with the right tools and processes. to spot theft because you can spot discrepancies sooner
rather than later.
Start tackling warehouse theft by ensuring you can
spot it – ensure that your inventory is correctly tracked “Incidents involving the theft of full truckloads
so that you can tell the difference between the types of continued as the most prevalent method of cargo theft
losses you may suffer by combining stock takes and in the third quarter of 2016, representing 78 percent of
cycle counts to accurately assess your inventory on the all reported thefts with an average loss of $120,298.
books.

Stock take vs cycle
counting and how
they help to prevent
warehouse theft
Your warehouse management
system (WMS) allows you to be
more flexible in your warehouse,
moving from traditional stock
take methods to cycle counting.

The main benefit of cycle
counting is that it doesn’t
require you to shut down your
entire business. Cycle counting

2 SEP T E MB E R/O CT O B E R 2023 www .l o g ist i csn e w s .c o .z a