2 Easy-to-Execute Tips to Discourage Employee Theft

2 Easy-to-Execute Tips to Discourage Employee Theft 2 Easy-to-Execute Tips to Discourage Employee Theft

2 Easy-to-Execute Tips to Discourage Employee Theft

In recent blog posts we’ve spent a lot of time covering different ways to address the problem of inventory shrink – from curbing employee theft, to keeping vendors honest, to finding ways to mitigate product spoilage.    This post will address shrink as well – on a much more granular level. Today we are going to […]

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Reduce Inventory Shrink by Keeping Product Spoilage to a Minimum

Reduce Inventory Shrink by Keeping Product Spoilage to a Minimum Reduce Inventory Shrink by Keeping Product Spoilage to a Minimum

Reduce Inventory Shrink by Keeping Product Spoilage to a Minimum

Inventory loss can have a big impact on profitability in any retail environment. The key is controlling it. In recent blog posts we’ve discussed ways to curb employee and vendor theft. This post will touch on another aspect of shrink – damaged or spoiled merchandise. More to the point, it will touch on how to […]

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Attacking Shrink From All Sides – Keeping Vendors Honest

Attacking Shrink From All Sides – Keeping Vendors Honest Attacking Shrink From All Sides – Keeping Vendors Honest

Attacking Shrink From All Sides – Keeping Vendors Honest

It would be nice to think that shrink due to theft comes at the hands of people we don’t know – dishonest customers who drive off without paying or pilfer merchandise in their oversized jacket pockets. While this does happen, more often than not, theft comes from someone on the inside. It comes from employees […]

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Double Quick

Double Quick Double Quick

Double Quick

Technology has evolved in leaps and bounds in the 30 years since Double Quick first opened its doors. Unfortunately, their previous auditing service didn’t evolve along with it. As of early 2013 they were still doing manual counts with handwritten reports. There was no integration with the price book. It was difficult to compare results from audit to audit. And there were considerable swings from one category to the next. As a result there was no real confidence in the accuracy of the numbers. As if that weren’t enough, the auditing service counted in the middle of the night, resulting in undue pressure on store and area managers. Things had to change.

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C-Store Shrink Prevention – Curbing Employee Theft

C-Store Shrink Prevention – Curbing Employee Theft C-Store Shrink Prevention – Curbing Employee Theft

C-Store Shrink Prevention – Curbing Employee Theft

Shrink, as you know, comes from a variety of sources – from slipshod inventory management that results in spoiled merchandise to out and out theft by employees, vendors and customers. There’s no doubt about it. Shrink, no matter what form it takes, hurts. The more shrink, the less profit.  It could be said though that […]

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High’s

High’s High’s

High’s

With a two–person internal audit staff assigned to handle the audit process at 51 stores doing a combined $48 million in annual merchandise sales, High’s had a problem. Audits weren’t getting done frequently enough, the focus was more on “truing up” the inventory more than on managing it, and, because the counts were always suspect, no one took ownership of the results. There was no reliable way to manage shrink—or inventory.

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Wesco

Wesco Wesco

Wesco

Several years ago, staffing challenges, outdated equipment and a desire to move from retail to item level audits led the Wesco team to consider moving from an internal audit team to an external one. The feeling was that by outsourcing, they could save money and get the expertise they needed to make the forthcoming transition to item level audits easier.

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Sheetz

Sheetz Sheetz

Sheetz

The Sheetz / Quantum relationship began more than 20 years ago. Sheetz’ incredible growth made managing an internal audit staff and getting them to store locations difficult. In addition, they felt Quantum was better equipped to handle the transition to scan audits. For Sheetz, it was a new way of doing business and has evolved into a trusted partnership that produced significant cost savings and improved operations. Find out why Sheetz looks forward to continued success working with Quantum.

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CoGo

CoGo CoGo

CoGo

“Quantum has been great about pointing out areas where we can tighten up, and things to watch out for,” Wayne Unks, CoGo Controller, observes. “It really gives us a chance to share in the information that Quantum collects via the thousands of c-store audits it conducts every month throughout the country. For example, Quantum recommended that we implement a different procedure for processing invoices. We followed their recommendation, and the change resulted in major savings in our finance department. This recommendation just came as a part of the way they do business with us.”

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Controls to Help Reduce Theft by Vendors

Controls to Help Reduce Theft by Vendors Controls to Help Reduce Theft by Vendors

Controls to Help Reduce Theft by Vendors

Dishonest vendors steal in a variety of ways. This “tip sheet” will help you address the most common techniques used by delivery persons. For more comprehensive information and free copies of training materials, see their information at the end of this publication.

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