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90-minute live streaming program
  • May 21
  • 1:00 - 2:30 pm EST

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OnDemand Course

Strategies to Reduce Inventory Shrinkage

May 21

Learn to fight inventory shrinkage with better warehouse management, earlier detection, security methods, and technology.

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.

Learning Objectives

  • You will be able to recognize inventory shrinkage in your own organization.
  • You will be able to identify best practices to consider in your own organization.
  • You will be able to define the impact and cost factors of inventory shrinkage.
  • You will be able to explain the importance of investing in tools, techniques, methods to reduce inventory shrinkage.

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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Inventory Shrinkage
  • Definition of Shrinkage
  • Impact on Inventory Accuracy
  • Impact on Supply Chain Management
  • Shrinkage and Carrying Costs
Reducing the Shrinkage Factor
  • Identifying Shrinkage in the Warehouse
  • Identifying Shrinkage in the Office Areas
  • Identifying Shrinkage in Transit
  • Control and Cycle Counts – Weapons Against Shrinkage
The People Factor
  • The Importance of Material Handling Employees
  • Training and Understanding the Impact of Inventory in the Supply Chain
  • Warehouse Management
  • Inventory Control and Management
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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

This course was last revised on June 29, 2018.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Live Webinar Registration

  • ISM 1.5
     
  • Participants who successfully complete this program will receive 1.5 hours of continuing education. They may be applied toward ISM CPSM, CPSD or C.P.M. recertification. ISM's consent to approve hours for this educational event is not an endorsement of this program or its content by ISM.
     
  • CPE 1.8
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.8 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: . Prerequisite: basic knowledge of purchasing contracts. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     

Who should attend?

This live webinar is designed for purchasing managers, buyers, contracting and materials managers, procurement managers, presidents, vice presidents, accountants, bookkeepers, and financial professionals.

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More Program Information

Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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
  • Has been teaching logistics including exporting and importing for Union and Middlesex County Colleges as well as for the County College of Morris for several years
  • Her global and supply chain courses have also been brought in-house in organizations and she has presented for several of the big freight forwarding companies located in the New Jersey area
  • Her supply chain management programs include a focus on global sourcing and logistics along with the successful management of the importing and exporting processes
  • Has spoken on capturing total landed costs in a global environment at conferences held by the Association of Supply Chain Management (APICS)
  • 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 908-709-0656 or [email protected]
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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

  • Live Webinars
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  • MP3 Downloads
  • Course Manuals
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  • White Papers and Articles
  • Sponsored Live Webinars

Additional benefits include:

  • State Specific Credit Tracker
  • Members Only Newsletter
  • All-Access Pass Course Concierge

* For audio recordings you only pay shipping

Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 408648
Published 2018, 2021
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