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 environment 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.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
Live Webinar Registration
- AIPB 1.0
- This program is acceptable for 1.0 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
- CPIM/CFPIM/CSCP 1.0
- This program may qualify for 1.0 certification maintenance points toward the CSCP, CPIM and CLTD designations through The Association for Operations Management.
- ISM 1.0
- Participants who successfully complete this program will receive 1.0 hours of continuing education. They may be applied toward ISM CPSM, CPSD or C.P.M. recertification. ISM's consent to approve hours for this educational event is not an endorsement of this program or its content by ISM.
CPE 1.2 including Production 1.2
- Noggin Guru, Inc. dba Lorman Education Services and BankersHub is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.2 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Production for 1.2 hours. Prerequisite: basic knowledge of purchasing contracts. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board.
Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
OnDemand Course
This course was last revised on December 3, 2021.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
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
- [email protected] or 404.210.0940
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
- [email protected] or 303.946.4199
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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