Employee inventory theft is a growing problem for any business. While business owners don’t want to suspect their employees are stealing from them, having processes in place to help prevent employee theft is necessary.
The True Cost of Inventory Loss
Businesses of all sizes experience a financial blow from inventory loss. Statistics show a dramatic increase in theft committed by employees. In a hypothetical scenario, a business with $60 million in annual sales could lose as much as $295,800 annually. Check out our infographic to learn how implementing physical security systems can reduce inventory loss by at least 60%. In this example, the company saved $177,480 the first year alone. For another example, listen to this podcast to hear how a tire distributor reduced theft by $1.8M. They were able to access, manage and track their facilities and storage rooms from anywhere, at any time through a single interface.
Don’t wait until cash you can’t afford to lose goes down the drain. Instead, think ahead about keeping your inventory under control and increasing your growth and profits. Check out our Reduce Business Inventory Loss infographic