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5 Tips to Protect Your Supply Chain From Fraud

5 Tips to Protect Your Supply Chain From Fraud

Overseeing a supply chain is a monumental job. Everything needs to run smoothly, from intermodal drayage and warehouse handling to crossdocking and transloading. Besides tight management, you need to have an eagle eye monitoring goods as they arrive and ship out, which can be a difficult feat to uphold every minute of the day. This makes supply chains a hot spot for fraud, such as employee theft, dishonest vendors and counterfeit goods- supply chain fraud. How can you protect your supply chain from theft? Here are 5 tips to consider.

Use asset tracking software and barcodes

Tools for asset and inventory tracking are crucial for keeping a measure of control over your stockroom and assets while dissuading employee theft, recording vital information such as where a product is or who last handled it.

Organize with a tool crib

Take the extra step with your security measures and lock up expensive equipment inside a tool crib. A tool crib uses barcodes and a check out system to keep track of what comes and goes, so you know where your equipment is at all times and who’s responsible for it.

Keep an open mind

Keeping a constant visual along the entire supply chain may seem impossible, but in fact, it’s necessary. Don’t ever think that supply chain fraud won’t happen to you. Implement strict policies, initiate discussions with vendors and keep an open mind about theft not only happening from outside the supply chain, but also from inside within the employee ranks.

Schedule audits

Make sure goods are accounted for and data is correct by scheduling regular and surprise audits on inventory. Your inventory database should always be updated regularly and accessible by select users.

Learn about your partners

Take the time and effort to build long term professional relationships with vendors and suppliers. This allows you to learn more about their business and establishes a reliable track record over time.

Looking for intermodal services, crossdocking/transloading and long haul services? America 1 Logistics can help! Contact us today and we’ll give you a free quote

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