Analyze the risks to merchandising that a business may experience and how they might be minimized. Determine if automation of accounting has had a positive or negative impact on business, in general, and how you arrived at that conclusion.
Create a corporate policy designed to minimize inventory shrinkage related to theft, stocking errors, shipping errors, etc., indicating how the policy will be enforced and procedures that may need to be implemented.
Imagine you are accountable for a franchise fast-food restaurant. Evaluate the best method of inventory costing and make a recommendation to the company’s leaders about why it is best suited for your franchise fast-food restaurant to reduce the possibility of employee theft of product or other shrinkage concerns.
Inventory control requires constant attention. Propose a set of guidelines that reflect the necessary monitoring controls for three distinct types of business (e.g., a shoe retailer, a physician’s office, and a food vending truck) to minimize loss and waste. Indicate how each control will minimize risk of inventory loss.