3 reasons to invest in better valuable goods management
April 12, 2017
How do you manage the store’s most valuable goods? Are they stored in a safe, behind the tills or perhaps in another room entirely? In that case, you’ve probably made life more difficult for yourself – this article explains why.
A majority of the products stolen from a store are ‘premium price products’, which includes items such as medicines, razor blades and tobacco. In spite of this there are still many shops which store this type of goods in a way that constitutes a theft risk – and a risk to the employees.
Administration requires intensive resources
Receiving, storing and distributing valuable goods requires administration and well-functioning logistics. Any wastage mean a huge financial loss for the store, but handling the loss also means an increased risk for robbery or theft. In addition, the secure storage area often takes up a large amount of store space that could be used more efficiently.
Losses because of theft, both by employees and others, make up almost 80% of the total financial losses in shops globally. Just think – what if we could get that number down to zero? A one-off investment in a more secure solution for managing these goods would quickly pay for itself and could eventually mean a significant upswing for the store’s finances.
Read more about how you can improve inventory control and provide a better customer experience here.
Valuable goods such as medicine or tobacco that cannot be stored out in the main store can easily be the reason for lengthy queues and unnecessary stress for the cashiers. Perhaps the cashier must leave the checkout to fetch the goods, or getting them requires a complicated access procedure. This is negative both from a service- and a security-perspective.
Do you recognise yourself in the above scenarios? Reduce unnecessary waste and streamline your store – the investment will pay for itself many times over.