Inventory Verification
The objective of a Stock Audit is to ensure the existence, accuracy, ownership rights and also verify the realizable value of the items in the company’s inventory.
Physical verification of Stock Audit
The objective of a Stock Audit is to ensure the existence, accuracy, ownership rights and also verify the realizable value of the items in the company’s inventory. Accurate accounting of inventory is also essential to a robust bookkeeping system and MIS reporting. Since the inventory has a lot of movement during business days, the process of routine physical verification needs proper planning, resource mobilisation and expertise.
Our team is equipped with Mobile App that can help Inventory Verification on real time basis. It helps management to know the status of verification on real time basis.
Benefits
The purpose of an inventory audit is to ensure accuracy between actual stock quantity and your financial records. Regular inventory audits increase understanding of your stock flow, help you calculate profits and losses accurately, and keep your business running smoothly. Some of the key benefits are:
- Ensure inventory reports are accurate
- Minimize the risk of damage or theft
- Up-to-date safety stock levels
- Demand Forecasting
- Identifies slow-moving, and obsolete inventory items
- Prevention of fraud and errors
- Determining the correct value of the inventory
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Need more help?
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+91 96500 03293
connect@tagmyassets.com