Agri Insurance

For Indian Agriculture Retailers

Agri Retailer Updates

Agri Retail News: Agri Retail Risks.

Inventory Theft Risk:
Theft or misappropriation of inventory can be represented in the most basic form of inventory theft — be it shoplifting or removing items from existing stock by employees. Theft of inventory along the supply chain before it has reached the company and distribution center represent a more sophisticated form of this fraud.

Online Retail & Credit Card Fraud:
E-commerce, online retail sales in India is still in its infancy. However, with the number of internet users increasing every year and credit card transactions on the rise, there is a huge potential for internet retailing in the country. Retail companies need to put in place adequate processes and technology to avoid costs resulting from online frauds like fake sales, fraudulent identities, revenue leakage and charge backs.

Goods Handling Risks:
Shipping consists of checking and loading orders onto transportation vehicles. As in receiving, shipping is manually performed in most systems.
When material reaches the store it has to be received by the Retail store. One of the important activities here is to unload the goods from the transportation vehicle. Most of the time unloading is done manually. Containerized or unit-load shipments considerably reduce the unloading time.
The primary handling objective in a store is to sort inbound shipment according to precise customer requirements.

Hazardous Risk:
We can find the information about toxicity, symptoms of poisoning, first aid etc. on the product label or on the material safety data sheet (MSDS). MSDS is a one type of sheet contains information provided by a pesticide manufacturer describing chemical qualities, hazards, safety precautions, and emergency procedures to be followed in case of a fire, spill or other emergency.