by: ADT Staff
This holiday season, many small businesses are hoping not to have a repeat of 2020’s woes. Unfortunately, it’s not looking good as supply chain delays and theft are on the rise, and nearly every sector has been affected, especially small and medium businesses. Some examples include:
- Inventory shortages: Shipping container congestion is just one of the reasons that many people may not get their gifts on time this holiday.
- Chip scarcity: A shortage in semiconductors is making small electronics scarce, and they have been a favorite theft item across the country.
- Losing out to big box retailers: Small business owners say they’re deprioritized by manufacturers compared to their larger counterparts and larger, more lucrative contracts.
- Rise in organized retail crime: According to the National Retail Federation's (NRF) latest study, ORC activity increased 68 percent in a year-over-year comparison with losses averaging $719,548 per $1 billion in sales before the pandemic.
Supply chain delays and theft here and abroad are impacting domestic-based small and medium businesses in new ways and business owners need to be prepared. No matter if you manage one or multiple sites, having a smart and strategic supply chain management plan for your business inventory will not just save you time and money now, but it will also help prevent more potential loss during the busy holiday season.
To help your business get ahead of potential disruptions this holiday season, here are some helpful ways you can use smart security tools to help protect your inventory on hand:
- Sensors:
- Using motion sensors is a great way to track real-time activity. You can see when shipments arrive and leave and pinpoint any issues in the process.
- Devices to measure unanticipated temperature changes or detect flooding can help a business owner act quickly to prevent damage or loss to stock due to extreme heat, cold, or a flood.
- If you have high-value and high-theft inventories or are located in higher risk areas, Electronic Article Surveillance (EAS) systems can help protect your locations from shrink. This can include advanced and specialty security tags for hard-to-protect merchandise, visible and concealed detection coverage for exits, self-alarming tags integrated into your video surveillance systems and more.
- Surveillance Cameras:
- With security cameras, business owners can take a live look into or outside of their business from anywhere using their mobile app.
- Cameras also allow small business owners to keep an eye on their employees, which is important when nearly two-thirds of small businesses fall victim to employee theft, totaling $200 billion in annual losses, according to the National Federation of Independent Business.
- Security cameras can send notifications when there is unexpected activity in a loading bay or inventory storage area and help reduce shrinkage by allowing business owners to quickly review video and respond.
- By mounting a camera over a cash register or checkout area, business owners can use footage to review any disputed transactions and deter employee “sweet hearting” or unauthorized discounting.
- Access Control:
- Small business owners can’t physically be everywhere at once, but with remote access, they can help manage many on-site activities.
- Permission-based access is a great tool to have, especially during the busy holiday season. With this tool, business owners can grant remote access to approved vendors and delivery staff and also manage the influx of temporary holiday staff quickly.
- Small business owners can’t physically be everywhere at once, but with remote access, they can help manage many on-site activities.
As small and medium business owners navigate the challenges of the holiday season, they can look to security and automation solutions for added support. Ultimately, these tools can help keep inventory safe and protect holiday cheer for business owners and customers alike.