Definition of Inventory shrinkage:
Material or goods lost through deterioration, obsolescence, pilferage, theft, and/or waste.
How to use Inventory shrinkage in a sentence?
- John Smiths employment as Inventory Manager with ABC Company was terminated due to his failure to account for inventory shrinkage in the warehouse.
- Due to the recent power outage in the area, the pizza business suffered a significant amount of inventory shrinkage from the loss of several products that required refrigeration.
- Our company decided to install multiple cameras throughout the warehouse, install a climate control system, and hire security guards to counteract inventory shrinkage .
Meaning of Inventory shrinkage & Inventory shrinkage Definition