What is the definition of pilferage?

The definition of pilferage refers to the act of stealing small amounts of money or inexpensive items, often in a way that goes unnoticed, particularly in a business context. This term is used to describe minor thefts that can accumulate over time, leading to significant financial losses for an organization.

For instance, employees might take office supplies, snacks from a break room, or small amounts of cash from a register. The key characteristic of pilferage is that it typically involves low-value items, making it more difficult to detect than larger-scale thefts, which involve significant corporate assets. Understanding pilferage is essential for businesses to implement effective loss prevention strategies and to foster an environment of honesty and accountability among employees.