A newsagency owner I spoke with recently discovered an employee theft that cost him $50,000.
The problem including cartons of cigarettes among other things. They were not stock-taking cigarettes as they thought it was too hard to get it right. It turns out the challenge was the employee who was stealing and hurting the quality of their data.
The newsagent chose to blame their system and or process and gave up when if in fact the discrepancies should have been taken as an alarm that they were being stolen from.
There is no excuse to stock-taking cigarettes and other high value products.
If you’re not doing it you’re missing the opportunity for early detection of theft and you are missing the opportunity for more accurate ordering of stock.
What frustrates me is that I encounter this every month or so – a newsagent uncovering long-term theft that includes cigarettes and that they are not using stock control for cigarettes. These retailers only have themselves to blame.
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