How to avoid losses?

Shrinkage is the difference between inventory records and the actual stock of goods stored in a company. While it is common, it is not recommended as it directly impacts inventory management, manufacturing, labor, and other production costs.

Causes of shrinkage:

  • Logistics failures.
  • Expiration.
  • Highway theft.
  • Among others.

To avoid economic losses and optimize inventory control, you should learn to manage it properly.

Recommendations to avoid shrinkage:

Invest in better security systems, inventory management, and storage that allow for detailed monitoring of both internal and external logistics processes.

Maintain constant communication between your logistics department and the companies responsible for the supply chains to gather all the details and information about the quality standards of the goods, expiration dates, and how to handle their unloading, etc.

Train your staff so they understand the essence of the processes and the details of practical methods, thus enabling them to manage inventory and operational phases of logistics processes correctly.

Use an ERP software to optimize financial, administrative, and commercial management.

Follow these recommendations to avoid shrinkage in your company; remember that it is essential to have well-trained personnel to execute tasks successfully.

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