Inventory Shrinkage

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Summary

What is Inventory Shrinkage? Meaning.

Inventory Shrinkage is the difference between the booked inventory a company should have as a result of its sales, purchasing and manufacturing processes and the actual inventory it has on hand. It is an unplanned and unwanted loss of inventory.

Major sources of shrinkage include:

Theft by employees (shoplifting) or customers.
Inventory counting errors.
Accounting errors.
Fraud.
Loss and damage.
Perishability, detoriation.

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🔥	NEW What is Let-size Inventory? What is let-size inventory? And what are the conditions which suggest to apply this type of inventory?... 7 1 comments

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Managing your Inventory: Quick Introduction to Just in Time, Stock Review and ABC Analysis

Basic Understanding of 3Inventory Management Techniques
This video gives a brief introduction to three popular Inventory Management Techniques: 1. JIT (Just in Time): Involve...

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