May 4, 2022

losing revenue to theft in the workplace

Prevent loss of inventory with a smart, simple solution

No matter the size or industry of your company, odds are good—shockingly good—that your employees are stealing inventory. It’s not fun to think about, but the statistics are overwhelming: 

  • 95% of all businesses have experienced employee theft.
  • 75% of employees admit they have stolen from their employers at least once; 37.5% admit to stealing at least twice.
  • Employees steal $50 billion from U.S. businesses every year.
  • Companies worldwide lose approximately 5% of revenue each year from employee fraud and occupational abuse. 

COVID-19 causes spike in inventory theft

Unfortunately, these numbers may be low. The pandemic has made employee theft worse. Especially in the healthcare field, where employees can pilfer PPE.

We are mistaken when we think employee theft is negligible—that it’s just the cost of doing business. Does it really matter if your employees take a pen, notepad, or mask here and there? 

Think about it this way: if 95% of employees are taking inventory over the course of their career, the costs multiply exponentially. Money that should be in the profit’s column is lost. 

And the worst part about inventory theft is that it’s easy to prevent.

How to prevent workplace theft

Most people will give you the same advice to prevent employee theft. They say, practice better bookkeeping, monitor inventory more closely, promote a culture of trust, etc. 

This advice is not helpful. It assumes that you’re not already doing these things. And it assumes you have time on your hands to spend auditing inventory. 

The truth is that most businesses—especially in warehouse and distribution, manufacturing, construction, and healthcare—are experiencing employee shortages. Hiring someone to monitor inventory is not an option. And nor should it be. There are much more efficient ways to prevent workplace theft.

Automated inventory management systems

The statistics show that employees are going to steal inventory. So, take away the option with a smart, secure inventory management system. No matter what type of inventory you need to protect, SecuraStock has plenty of customizable, scalable options.

For small inventory

Smaller items like scrubs, gowns, face shields, and masks can be securely stored in SecuraStock, an automated vending machine that boasts:

  • Controlled access entry system
  • Four cameras
  • DVR
  • Cloud storage 

For enhanced security, a card reader can be added to track which employee removed which items. We even have options for storing flammable chemicals. Our systems not only keep your inventory secure, but they also monitor your inventory so you know when and what amount to order.

For your most valuable inventory items, you can enhance your machines with ZONE, which adds customizable authorized user functionality. That means you can choose who can access certain materials and who can’t. 

For large inventory

While SecuraStock’s industrial vending machines are spacious, you may need to secure a larger space like a crib, storeroom, or warehouse. 

For storerooms and cribs, we recommend the SecuraCRIB. It features 

  • Controlled access entry system
  • Motion-sensing security cameras that monitor and record
  • Monitors transactions 24/7 anywhere in the world

Prevent workplace theft with SecuraStock 

Manual inventory management is outdated, time-consuming, expensive, and error-prone. Our automated inventory management systems are designed by distributors to make distribution and vending as smart, simple, and secure as possible. 

SecuraStock is so confident in our products that we offer an unheard-of 3 Year Complete Warranty and No Theft Guarantee. If theft occurs, you can return your SecuraStock system, or we will pay you for what was stolen. Period.

The numbers don’t lie. There are 2,194,181 SecuraStock users around the world and ZERO theft incidents. Join the SecuraStock family and enjoy reduced workplace theft with our automated, cost-effective solutions.

Ready to Transform the Way You Manage Inventory? Contact Us.