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Strategies to Reduce Inventory Shrinkage

 

Inventory shrinkage or the theft of inventory within organizations today in spite of the heavy use of technology is still occurring and in fact, in some situations, is growing.

Inventory loss and its costs includes not only the material itself but also the time spent in searching for the missing inventory as well as expedited purchasing costs to replace the needed inventory. Missing inventory is a factor in the supply chain bullwhip effect.
Organizations need to take this problem seriously because it has a serious impact on every aspect of the supply chain. Organizations are fighting inventory shrinkage with better warehouse management, earlier detection, material handling education, security methods, and technology. The need for timely information for production and customer orders emphasizes the importance of addressing this situation. The costs for writing off inventory shrinkage as just part of doing business are far higher than most organizations know. This material also offers proven best practices in solving the mystery of inventory shrinkage.

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Strategies to Reduce Inventory Shrinkage

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Strategies to Reduce Inventory Shrinkage

Faculty

Marilyn Gettinger

Marilyn Gettinger

New Directions Consulting Group

  • Owner of New Directions Consulting Group
  • Developer and presenter of programs that educate participants on how to improve supply and logistics processes
  • Conducts regular seminars and workshops on Supply Chain Management including Logistics, Supply Management Logistics, Inventory Management, Importing and Exporting
  • Author of Supply Chain Management and Total Cost of Ownership
  • Member of APICS and Director of Education of the Institute for Supply Management-New Jersey Affiliate
  • Can be contacted at [email protected] or 908-709-0656
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Strategies to Reduce Inventory Shrinkage

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