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Strategies to Reduce Inventory Shrinkage

Date: Thursday, June 14, 2018
Time: 1:00 - 2:30 pm EST

Sponsored by Lorman Education Services


Registration - Live Webinar Only: $199.00

Registration - Live Webinar Plus CD Recording: $268.00

 

Inventory shrinkage or the theft of inventory within organizations today in spite of the heavy use of technology is still occurring and in fact, in some situations, is growing.

Inventory loss and its costs includes not only the material itself but also the time spent in searching for the missing inventory as well as expedited purchasing costs to replace the needed inventory. Missing inventory is a factor in the supply chain bullwhip effect.

Organizations need to take this problem seriously because it has a serious impact on every aspect of the supply chain. Organizations are fighting inventory shrinkage with better warehouse management, earlier detection, material handling education, security methods, and technology. The need for timely information for production and customer orders emphasizes the importance of addressing this situation.

The costs for writing off inventory shrinkage as just part of doing business are far higher than most organizations know. This material also offers proven best practices in solving the mystery of inventory shrinkage.

Learning Objectives:

  • You will be able to recognize inventory shrinkage in your own organization.
  • You will be able to identify best practices to consider in your own organization.
  • You will be able to define the impact and cost factors of inventory shrinkage.
  • You will be able to explain the importance of investing in tools, techniques, methods to reduce inventory shrinkage.

This Live Webinar Covers These Hot Issues:

Inventory Shrinkage

  • Definition of Shrinkage
  • Impact on Inventory Accuracy
  • Impact on Supply Chain Management
  • Shrinkage and Carrying Costs

Reducing the Shrinkage Factor

  • Identifying Shrinkage in the Warehouse
  • Identifying Shrinkage in the Office Areas
  • Identifying Shrinkage in Transit
  • Control and Cycle Counts – Weapons Against Shrinkage

The People Factor

  • The Importance of Material Handling Employees
  • Training and Understanding the Impact of Inventory in the Supply Chain
  • Warehouse Management
  • Inventory Control and Management

Credit Information (Sponsored by Lorman Education Services):

  • CPE
  • ISM
  • NASBA

For Detailed Credit Information page click here

Only registered attendee will receive continuing education credit.

Instructor Profile:

Marilyn Gettinger, New Directions Consulting Group

  • Owner of New Directions Consulting Group
  • Supply chain management including warehousing, inventory control and management, supply management, logistics
  • Conducts regular seminars and workshops on supply chain management including logistics
  • Author of Supply Chain Management and Total Cost of Ownership
  • Member of APICS and Director of Education of the Institute for Supply Management-New Jersey Affiliate
  • Masters’ degree
  • Can be contacted at 908-709-0656 or mgettinger6@gmail.com

(Not available outside the US)