When you are working in the firearms industry, keeping track of your inventory is critical. Better inventory control can drastically reduce shrinkage. Shrinkage may be caused by theft, but it can also be caused by improperly recording inventory in the first place, misplacing inventory, or miscounting it.
- Operational-caused shrinkage is due to human error.
- Manual counting opens the potential for many mistakes and leads to incorrect data.
- Many businesses put specific loss-prevention devices in place to prevent theft including surveillance cameras and electronic warning devices.
- Barcoding systems are also an important means to reduce shrinkage.
- At a minimum, you should do a box count quarterly.
- Better yet is a serial number reconciliation.
When you use a barcoding system, you can maintain better control and find losses sooner. Using barcode scanning and electronic ATF software like Easy Bound Book™, the firearms’ serial numbers can be scanned and automatically entered into the ATF bound book.
What should you do when you discover a loss? Investigate losses immediately. You have 48 hours from discovery until you need to report it to your IOI. Click here for full instructions and forms.
Whatever the circumstance, Easy Bound Book™ makes A&D recordkeeping of firearms easier. Easy Bound Book checks the entered serial number to help avoid incorrect serial numbers. Sales, transfers, purchases, returns, and losses are easily recorded.
Watch this short video to see how Easy Bound Book™ improves A&D recordkeeping.