What does Pilferage mean?

Pilferage is generally an act of stealing items or things of little value. It can be seen from two main aspects such as inventory and marine thefts.

From the inventory aspect, pilferage causes a reduction in the inventory as a result of shoplifting or an act of stealing by employees. Employees stealing mostly connotes small theft carried out repeatedly over a long period of time. Marine theft, on the other hand, is the stealing of a small quantity of large shipment.