The American Financial Services Association (AFSA) recently released an episode of its Extra Credit Podcast, featuring a discussion on inventory risk management. The conversation was led by Dan Bucherer, Senior Director of Member Services & Engagement at AFSA, and Brian Johnson, Vice President of Revenue Operations with DataScan.
During the podcast, Johnson addressed the role of audits in managing risk and emphasized the importance of utilizing real-time data. He noted that waiting for periodic audits to address risk is not sufficient. Instead, he advocated for continuous monitoring as a more effective approach.
"If you’re waiting for the next audit to manage risk, you’re already behind," Johnson said.
Bucherer and Johnson also discussed the balance between conducting physical audits and implementing fully autonomous systems for inventory oversight. They explored how organizations can better manage risks by embracing technology while recognizing the ongoing value of traditional audit methods.
The episode is available on major podcast platforms and through AFSA’s website at afsaonline.org’podcasts.