Stop stealing stock

Stop Stealing Stock! 5 Simple Tips to Protect Assets

Stop Stealing Stock! 5 Simple Tips for Protecting Your Assets

Business owners and managers keep a tight hand on wallets and iPhones through Asia, but its actually inventory and operational plant that is more susceptible to theft.

SMCS Risk is often called to investigate major thefts. Over the years, our experience has taught us a number of valuable lessons. Here are five security practices that your warehouse, factory or storage facility should implement to minimise the risks posed by theft.

Stock Control – Know what you have

“What have you lost?” is often the first simple question that we ask, yet it is remarkable that few clients are able to fully answer this. A business which carefully monitors what it should have in stock will have a much easier time detecting any nefarious activity. Strict monitoring of stock will actually act as a deterrent to any potential ‘inside – jobs’, but we’ll elaborate more on that later in this article.

Secure the Perimeter

Your facility is your fortress, and no fortress is safe without a strong exterior. The installation and use of locks is critical, as is the use of fences and shutters where possible. Moving inside, it’s also a sensible idea to separate areas of your facility from one another. Provide barriers between incoming and outgoing stock areas, and avoid stacking your goods too close to the entry and exit doors. You should also be wary of any blind spots or dark corners of your facility where potential thieves may take advantage.

Keep a virtual eye out: CCTV

Having visible security cameras is essential for two reasons. Firstly, the review of recorded evidence should be your first course of action should you encounter any ‘shrinkage’ in your stock. The second reason is deterrence: it’s far less likely that a thief will intrude upon your premises if he or she knows that they’re being watched every step of the way and could be identified. Have CCTV set up inside the facility and near entry and exit points.

Man the gates

All people admitted into and out of your facility should be recorded. Vehicles coming into or out of the property should be recorded, be it by CCTV or recorded in writing – make sure you note down the vehicle registration, description and colour. For extra security and indeed deterrence, carrying out random or even mandatory inspections on outbound vehicles will lower the risk of theft. To remove some dependence on your own employees, we’d recommend outsourcing this security measure to an external security company who may not know the ins and outs of your facility as well as your employees.

Manage your staff

You may not want to believe that your trusted staff would steal from you, but every day employers discover that this very thing happens. A recent survey discovered that theft was 5.5 times more likely to be an inside-job rather than an outside one, and 1 in every 40 employees had stolen from their employer.

In Asia, many people are paid quite modestly and this relative poverty can lead to theft. So what are you to do? All of the above steps, CCTV monitoring in particular, are sure to deter your staff from betraying your trust. You should also run a background check on potential employees where possible, unfortunately someone’s past can often be an indicator of their future. As cynical as that may sound, can you really afford to take the risk?

You’ll substantially decrease the potential for loss from theft by following these simple steps. SMCS Risk has a wealth of experience in this field, we’ve seen enough to know how to help. If you want to secure your business’ stock and expensive operational plant, get in touch.

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