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Stock Audit
Every company nowadays rely on computers to maintain their stocks. The digital stock register is very efficient as it reduces almost all discrepancies in data. With companies holding stocks in quantities exceeding in Millions, stock audit becomes a very important part of operations. It is necessary to audit and confirm whether the number of goods mentioned in the digital register match with the physical presence of goods.
Importance of conducting a stock audit
There are many key factors because of which a stock audit is an absolute necessity. The first and the foremost one is to identify the dead stock, obsolete stock, slow-moving stock, scrap, etc. The results of a stock audit will give you key valuable information that will assist you in making decisions in further production cycles and also many other insights. After collecting the data you can easily make charts and statistically have a clear picture on the performance of certain goods. You will be able to differentiate between high-performing goods which will directly help you to focus your energies on goods that generate the highest revenue.
Why choose us
We have a professional team which have conducted numerous stock audits and have devised one of the most efficient ways to conduct stock audits. We make sure to conduct it in a time-bound manner and provide you with additional insights about your stocks.
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Physical conditions audit
We give you additional information about the best ways to stock goods by doing optimal utilisation of space. These ways are made taking into consideration the fact that these goods must be preserved properly and also easy to locate and displace when the need arises.
Following the compliance
We make sure to check that each process used in storing follows the compliance set by the government. There are certain guidelines set by the government for every industry and all these must be followed to avoid any action by authorities.
Procedures followed by us
We follow various rigorous processes including a random sampling of stock, verifying stock movement processes, checking of sealed inventories and comparison of recorded and actual stock. We also analyse the data collection process currently being used.
Information about new technological trends
We will prepare a report and provide insights into new technology trends which can benefit you in your stock keeping processes. The objective of this report is to improve efficiency and reduce dependency on people.
Cost reduction in bottom line
Conducting a proper stock audit make sure to benefit your bottom line as it reduces stock wastage and also makes you more aware of the condition of your stock. It will also help you plan the stock for the next financial year.