Page 104 - DMGT553_RETAIL_STORE_MANAGEMENT

Unit 6: Stock Management

tags can be given unique identification codes, so that individual products can be tracked Notes
certain types of tag can be overwritten, enabling information about items to be updated,
e.g. when they are moved from one part of a factory to another

Task Did you find any difference between tag and barcode? Justify your answer.

RFID tagging can be used:

to prevent over-stocking or under-stocking a product or component
for stock security, by positioning tag-readers at points of high risk, such as exits, and
causing them to trigger alarms

for quality control, particularly if you make or stock items with a limited shelf life
The costs associated with RFID tagging have fallen over recent years, and continue to do so, to
bring the process within the reach of more and more businesses. The benefits of more efficient
stock control and improved security make it particularly attractive to retailers, wholesalers or
distributors who stock a wide range of items, and to manufacturers who produce volume runs
of products for different customers.

6.3.3 Stock Security

Keeping stock secure depends on knowing what you have, where it is located and how much it
is worth – so good records are essential. Stock that is portable, does not feature the business’
logo, or is easy to sell on, is at particular risk.
Thieves and Shoplifters

A thief coming in from outside is an obvious threat. Check the security around your premises to
keep the risk to a minimum. In a store, thieves may steal in groups – some providing a distraction
while others take goods. Teach your staff to be alert and to recognise behaviour like this. Set up
a clear policy and make sure staff is trained in dealing with thieves.

Offering to help a customer if you are suspicious will often prevent a theft. Avoid using
confrontational words like “steal” if you do have to approach a suspected thief, and avoid
getting into a dangerous situation.

Protect Your Stock

Identify and mark expensive portable equipment (such as computers). If possible, fit
valuable stock with security tags – such as Radio Frequency Identification tags – which
will sound an alarm if they are moved.

Don’t leave equipment hanging around after delivery. Put it away in a secure place, record
it and clear up packaging. It is a good idea to dispose of packaging securely – leaving
boxes in view could be an advertisement to thieves.
Take regular inventories.

Put CCTV in parking lots and other key locations.

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