Warehouses in North America incur about $500,000 in losses every eleven days due to unforeseen risks. Across the world, issues such as employee theft and product damage cost retailers and wholesalers billions of dollars every year.
When operations include the use of warehouses, it's important to consider all associated potential risks. Risk managers must lessen the likelihood of incidents and reduce the severity when they do take place. Otherwise, the warehouse will be vulnerable to significant losses that can have a serious impact on organizational performance.