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Business Technology

Business Technology. Mr. Bernstein DECA, pp 67-76: Stock Handling, Inventory & Shrinkage October 30 , 2013. Business Technology Mr. Bernstein. Receiving Merchandise Must be some form of Receiving Record which includes: Date shipment is received Person receiving the shipment

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Business Technology

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  1. Business Technology Mr. Bernstein DECA, pp 67-76: Stock Handling, Inventory & Shrinkage October 30, 2013

  2. Business TechnologyMr. Bernstein Receiving Merchandise Must be some form of Receiving Record which includes: Date shipment is received Person receiving the shipment Location shipment came from Name of carrier List and number of items

  3. Business TechnologyMr. Bernstein Methods of Checking Merchandise Blind Check - open each box and count, the compare to invoice Direct Check – most common method, checked vs invoice Dummy Invoice – compare to invoice without quantities Spot Check – Quick but not complete Unpack and place in appropriate place in store

  4. Business TechnologyMr. Bernstein Inventory Methods Perpetual Inventory Information typically collected through POS (Point of Sale) system Allows employees to see product availability at all times Manual Data Collection Sales and shipment information collected continually, or periodically (aka Physical Inventory) No upfront or ongoing costs Opportunity for errors Can use a combination of Perpetual and Physical Methods

  5. Business TechnologyMr. Bernstein Inventory Shrinkage Theft (employees) - 49% Shoplifting - 32% Administrative Error – 15% Vendor Fraud – 5% Prevention Education – test on store procedures Planning – plan for dealing with dishonest customers, employees or vendors Security – pre-employment testing

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