Usually, all tremble when you hear the term audit of inventories. However, it is a very important process to follow to ensure the success of a store. Discover how to perform a correct audit of inventories.
For many, the word audit can be a bit pleasant, but whether that is applied by internal or external media, it is important to her conduct to ensure the proper functioning of the retail business.
Therefore in this blog FollowUP we will seek to better understand how it should be done correctly to avoid complications in the future.
What is the audit of inventory?
It is a process that can be carried out internally by the management of the store, or externally through a auditor, which is done by applying an analytical procedure that allows you to verify the methods of inventory of a company and can verify that the count of the assets and financial records actually coincide.
What is its importance?
The importance of conducting audits of inventories is that it allows you to maintain the accuracy of the inventory, in addition to detecting the causes of the economic downturn and to ensure that you always have the right amount of goods available at the right time.
If you have a better understanding of the flow of stock, you will be able to guarantee that your business will run smoothly, because this way you'll know which products you have on hand.
Maintain an efficient process management inventory it can help you to reduce the duration, costs, and in general, the complexity of the audits. To make a lot more agile this complex process, it is advisable to make use of the technology, through the use of automated systems of inventory management.
Using a system it is possible to cease the registration and control of many stages involved in the inventory, which makes it easier to maintain the operation efficiently and to your time tracking the inventory of your store with greater precision.
In this way, in case of an audit of inventory you will be able to respond quickly, and on the basis of accurate data, each one of the questions that arise and have the confidence that you can complete this process without any fear and with excellent results.
Recommendations to perform an audit of inventory
The best inventory audits consist of three phases, which are; planning, execution, and analysis.
Below, we're going to help you so that you can prepare your own inventory audit, applying a series of steps that you will get a better visibility of your supply chain and as well evaluate its operation even before an external audit.
Evaluates which are the elements to be audited:
It is important that priorices those articles that are of greater risk, which should be assessed with greater frequency than the rest of the goods. To make it more tidy and streamline at the same time the selection process, it is recommended to use the bar codes or SKU.
Create an audit schedule:
One of the inconveniences that can lead to the audit of inventories is the fact affect the normal performance of activities in the store, so it is convenient to lay out a schedule to run that process, defining the frequency with which these are made.
Keep on hand the required documentation:
To make the audit, a process less cumbersome, it is recommended that recolectes all the necessary documentation in advance, thus ensuring its accessibility, but without neglecting the safety of the same.
Now, you are ready to start the audit of inventory:
In function of your business, the auditor should select the type of audit more relevant. Make sure the fairness of your internal auditor, since what is sought is to know the truth and do not cover up flaws.
Keeps track of the results:
The main objective of an audit is to detect weaknesses in your inventory and look for opportunities to time to correct the deficit and improve operational processes.
Conclusion
As a retailer you're always willing to gamble everything to get the best performance out of your business and the satisfaction of the customers, that is why it is absolutely necessary to look inward, deep into the business, to detect any irregularity which would be detrimental to your efforts.
Be sure to apply correctly the audit of inventory, with the purpose of counting with accuracy the goods and the functioning of your business, because in this way you will be able to detect any irregularities and make decisions that allow you to fix those problems and enrumbarte to success.
