Inventory is a substantial part of assets of any trading and manufacturing business and it mostly constitutes significant portion on the balance sheet of the business. Therefore, it is crucial to maintain proper control on inventory by ensuring correct record matching with the physical quantities of stock. However, keeping correct inventory records which is reconciled with physical inventory quantities is always a challenge for many Small and Medium Sized Businesses. Please note appropriate inventory records ensure time and cost savings resulting in better management of working capital.

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We provide following types of services relevant to inventory/stock counting and inventory reconciliation:

 

1. Inventory Counting Services

This involves physically counting of inventory items in a company store or warehouse. For many small and medium businesses, inventory count and physical verification is not a routine activity and accordingly they do not have extra human resources to carry out this one-off activity. Therefore, this activity is mostly outsourced to inventory counting company. In some situations, the management of a company would like to know the actual quantities of inventory lying at the store, warehouse, supermarket. We can assist the management with our expertise and our inventory counting services cost will be very economical.

 

2. Inventory Verification Services
Inventory verification is the process that matches company’s stock records with what company have in the store in physical form. It is also called as physical stock verification. During this verification process, stock present in store is counted and then matched with stock records from system and discrepancies are noted. The reasons for these discrepancies are analyzed and reported to the management along with stock discrepancies. Inventory reconciliation is the next step after physical verification and purpose is to ensure improved stock management.

 

3. Inventory Management Services

Inventory management is very important part of any trading and manufacturing business. We provide advisory services regarding various aspects of inventory management. Ranging from software solutions, policies and Standard Operating Procedures for inventory handling, inventory tracking, stock levels, Economic Order Quantities, stock reconciliation & design and implementation of internal control for inventory.

Benefits of Inventory Counting and Verification 

Generally inventory counting and verification have the following benefits:
 • It helps in keeping up to date inventory records 

 • It ensures proper tracking of inventory items 

 • It helps in improving working capital management 

 • It provides company a consistent and precise data for better decision making 

 • Correct and up to date inventory records