Issue link: http://read.dmtmag.com/i/464194
35 Oil Prophets BUSINESS STRATEGIES 5. Reduce theft. Video surveillance has become inexpensive. The other day I learned of card lock fuel theft which eventually added up to over $12,000 that could have been prevented with a simple $250 camera. Theft also occurs in warehouses and retail, both deliberately and inadvertently. Measuring, educating, internal reporting, and bonusing can cure the majority of internal theft and get employees watching vendors and customers on your behalf. 7KHVH¿YHDFWLRQVDUHQRWKDUGWR do, and they bring wonderful results. We teach additional state-of-the-art inventory methods in our coaching program, and it has been personally gratifying to see some of the results. We've had large lubricant marketers PDNHVHYHQ¿JXUHUHGXFWLRQVLQ inventory that catapulted their values. So just do your math on what your inventory level is currently, then what it should be, to know how much cash you have sitting in inventory that ought to be in your bank account. My guess is that number will get you motivated!