Preventing Theft with Inventory Management

As a manager of a warehouse or store, it is hard to have your eyes on everyone at the same time. It is easy for an employee to steal product if there is no system in place to track inventory.

A recent study conducted by Software Advice, an inventory management software consultancy, shows that companies that have some sort of inventory management software integrated, have fewer amount of thefts, over those companies that use either an office software or just accounting software.

“It’s important for all business owners to realize that inventory management software will save you time—and money—in the long run. It increases your inventory visibility by standardizing your records and it can help you identify where shrinkage is occurring when you perform cycle counts. While a computer program won’t necessarily deter employee theft, it will give you the resources to ensure that your inventory is properly accounted for. When your inventory is properly accounted for on a consistent basis, there’s less of a chance that bad behavior will be able to fly under the radar. Regardless of what kind of business you have, it’s important to protect your assets. Using inventory management software is an easy way to give you a better sense of security.”

While it is not possible to completely deter theft, with inventory management software it is possible to better track inventory and catch theft as it happens. According to this study, a higher number of employees admitted to stealing from their company when the company used only an accounting software as their main inventory management (35%). That number is significantly reduced when there is a real time inventory management software in place (22%).

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It is easy to see that a perpetual inventory system is essential for preventing theft, but it can also save money in other areas of your business. To learn more about perpetual inventory and it’s benefits, check out our blog.

If you are interested in seeing your inventory in real time and learning how to help prevent theft and see if QStock is right for you, Contact Us Today by filling in the form below. We would love to hear about your business and how QStock can help you achieve your business goals.

SRC: Software Advice

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