Learn to fight inventory shrinkage with better warehouse management, earlier detection, security methods, and technology.
Disparities between the inventory recorded within financial systems and the physical inventory present in warehousing and storage locations can have impactful and far-reaching implications for businesses across customer service, revenue realization, operational efficiency, labor costs, working capital, utilization of credit facilities, audit compliance, and more. While theft and/or intentional falsification of record-keeping within either or both of the financial or operational environments is always a possibility if sufficient controls are not present, inventory shrinkage is a complex topic with many potential root causes that can present to business and functional owners in seemingly similar ways. Join Kirk Waldrop and Ben YoKell, Managing Directors at Alvarez & Marsal, for a discussion of the symptoms, impacts and root causes of inventory shrinkage, with examples of real-world situations from their collective decades of helping companies across industries solve their inventory management challenges.
Learning Objectives
- You will be able to recognize symptoms of inventory shrinkage.
- You will be able to explain the differences between inventory shrinkage and loss.
- You will be able to identify potential root causes of inventory shrinkage.
- You will be able to describe how to diagnose the likely causes of inventory shrinkage in your business.
Agenda
- Introduction
- Defining Inventory Shrinkage
- How Inventory Shrinkage Impacts the Business
- How to Identify Inventory Shrinkage
- Potential Root Causes
- What to Do About Inventory Shrinkage
- Q&A
Speakers
Kirk Waldrop,
Alvarez & Marsal- Managing Director, Supply Chain Services, Alvarez & Marsal
- More than 26 years in supply chain and operational improvement
- Supply chain strategy and transformation, facility design and optimization, inventory management and order fulfillment, materials management, direct-to-consumer and omni-channel operations, facility automation and material handling, 3rd party distribution and logistics selection and implementation, returns processing, business process redesign and operational improvement
- M.S. Degree in Logistics and Transportation, University of Maryland; B.S. Degree in Industrial Engineering, Georgia Tech
Ben YoKell,
Alvarez & Marsal- Managing Director, Supply Chain Services, Alvarez & Marsal
- More than 24 years in supply chain and operational improvement
- Supply chain strategy, manufacturing and distribution network design, supply chain forecasting and planning, production scheduling, inventory planning and optimization, supply chain technology selection and implementation, supply chain analytics, operational due diligence, separation/integration planning and execution, business process redesign and operational improvement
- M.E. Operations Research and Industrial Engineering, Cornell University; B.A. Degree in Mathematics, Cornell University
Who Should Attend
This live webinar is designed for purchasing managers, buyers, contracting and materials managers, procurement managers, presidents, vice presidents, accountants, bookkeepers, and financial professionals.
