Theft and Fraud in manufacturing industries

Fraud is an increasing risk in an organization’s risk portfolio that must be addressed.  Manufacturing industry leaders need to ensure that there are program components in place in order to detect and stop this from occurring at their facilities.  Losses due to theft and fraud nationally will contribute to losses in the billions of dollars on an annual basis.  Review and follow up in the following areas is imperative:

Fraud Risk Management Program Elements

  • Defined roles and responsibilities
  • Commitment to the program from the top down
  • Fraud awareness
  • Affirmation process
  • Conflicts disclosure
  • Fraud risk assessment
  • Reporting procedures and whistleblower protection
  • Investigative process
  • Corrective action
  • Quality Assurance
  • Continuous monitoring

It is equally imperative that if an organization is not familiar with implementing a program, they get the required expertise in order to customize one for their needs. Costs for implementing such a program will paid for in the future by savings that are realized and in increased profits.

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Newsletters are a great way to get information out!

Several have asked how I communicate to my clients, or potential customers on a regular basis.  Besides the standard website, Facebook, Twitter and blog posts, I also utilize monthly newsletters.  I have found that the upside to newsletters is that you share and provide information to your selected audience on a consistent basis.  Here are some other key benefits to publish a monthly letter to those that you partner with:

Benefit #1: An e-Newsletter enhances your company’s reputation and increases lead generation.

Benefit #2: An e-Newsletter increases the lifetime value of your clients.

Benefit #3: An e-Newsletter is a very cost-efficient and cost-effective communication channel with your clients.

Benefit #4: An e-Newsletter leverages your marketing efforts.

Benefit #5: An e-Newsletter provides instantaneous trackable results.

Benefit #6: An e-Newsletter opens the opportunity for your clients to easily and immediately interact with you and for you to promote dialog with your clients.

Benefit #7: An e-Newsletter provides a higher response rate because it is being sent to a more receptive audience.

Benefit #8: An e-Newsletter is much more cost efficient than a printed newsletter because of the significant savings in time, printing and mailing costs.

Now, check our our monthly e-newsletter – August 2015

Thanks for reading!