Inventory Management and Stock audits

Inventory Management and Stock audits
Control over the inventories is crucial function for all organizations, as the inaccuracies in inventory records can cause erroneous management decisions. Inventory Management intends to verify the accuracy of inventory records by creating mandatory checkpoints and controls. The process involves assigning the proper carrying value to the inventory, so it can be reflected properly in the company’s financial records. Some of the activities which AVA can assist clients in are:
• Store leader updation.
• Physical Verification & Stock taking.
• Surprise Checks to identify the real position of inventory One of the basic tools for this purpose is a physical count of the inventory on hand, which can be compared with the financial records to detection or validation.