Strong Stock and Cash Control policies are a must for every business. If you are not in control of your product and your profits, you are not in control of your business.

Make it clear to keep it under control

Businesses who have strong Stock and Cash Control policies are better situated to address and manage issues such as: employee performance and compliance issues, and theft and fraud inside the business. This is in addition to the deterrent qualities that a strong policy communicates.

To remain in control of these vital elements of success a business needs to have a strong Stock and Cash Control policy that:

  • is written to reflect the realities of the business;
  • is communicated to all staff;
  • outlines expected behaviour and repercussions for failure to demonstrate expected behaviour; and
  • is enforced in a consistent and predictable fashion.

Stock

Stock in a petroleum and convenience business can be everything from lollies to petrol.  A businesses stock is its product and it is vital that it be handled, recorded and disposed of according to the businesses requirements.

Cash

An additional benefit of strong Cash (and Credit) Control Policies can also be the reduction in incidental cash exposure. Tighter cash control procedures can also lead to the business being a harder target for both opportunistic and organised criminal activity.

Here to Help

Stock and Cash Control Policies are part of the “must have” policies that every business should have, communicate to staff and enforce. ACAPMA members are reminded that ACAPMAlliance has a series of resources from Quick Reference Guides to template letters, and investigation and reporting checklists for Stock and Cash Control that can assist with ensuring your business is protected, and that management can respond appropriately to acts of misconduct around stock and cash/credit. ACAPMA members can access these resources and can call on the advice and support of the ACAPMAlliance Workplace Relations Professionals on 1300 160 270.

HR Highlights are things to consider, implement and watch out for in your business. They are provided as general advice and you should seek further advice on your situation by  calling 1300 160 270 and speaking to one of ACAPMA Workplace Relations Professionals its free for members.  Click here to apply for ACAPMA membership

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