Develop strategies for reducing shrinkage.
Development should include strategies to prevent
- human error
- shoplifting
- internal theft
- external theft
- vendor theft
- counterfeiting (including new production technologies).
Process/Skill Questions:
- How can a business deter shoplifting?
- What is the biggest cause of shrinkage? Why?
- What procedures can be used to control employee theft?
- How have businesses employed technology to aid in reducing shrinkage?
- How can proper screening and training of employees help reduce shrinkage?
- How can the use of reorder point plans help reduce shrinkage from expired product?
- What tools can a company use to avoid administrative errors and fraud?