American businesses lose more than 40 billion dollars to inventory shrinkage. In other words, that issue could bankrupt your business if you don’t keep it under control. So, what are the best practices in inventory management to minimize shrinkage? To minimize shrinkage, employers should adopt vetting and security measures to reduce employee theft and human error. Scheduled and surprise audits help deal with this issue the same way educating employees and splitting inventory responsibilities does. Inventory issues happen for a lot of reasons, so attacking this problem from multiple angles is vital for your business.
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