Data collected during our financial inventories is routinely provided to you in a spreadsheet, custom built to suit your needs. Our most popular report template shows price times quantity in various categories specific to your store. Each report’s data can be compared from inventory to inventory.
On the day of your inventory, we bring the technology with us in order to provide you with a printed copy of your inventory report on the spot, immediately following the inventory.
Since your inventory is considered a business asset and is included in the equation when calculating the overall net worth of the business, an important part of the purchase or sale of a business is knowing exactly what inventory is on hand and what value that inventory has.
If you are planning to buy or sell a retail business, we can help! We offer both pre-counts and closing day services. Our fast, accurate auditing services will help ensure that your transaction goes smoothly.
As all retailers know, the importance of accurate pricing is essential to happy customers and healthy profits. With price verification, we ensure that what your customer sees reflects the price in your price book so that there are no discrepancies between you and your customers.
Our price verification service is performed quickly and accurately when it may take your employees weeks to attempt the task along with their daily responsibilities.
Sadly, one of the biggest causes of loss in a retail business is theft. But there are ways to reduce theft! We can help you with a strategy for arranging your gondolas and shelving, as well as your products, in a way to minimize shoplifting. We can also offer additional tips for maximizing profit and efficiency in your business.
Our experts will work with your staff and store management to evaluate your inventory and design a solution that suits your needs. We can provide either full financial audits or the use of proprietary scanning systems allowing for cost as well as retail data. Our technology staff can create data reports in the application that you prefer that will break down your information into categories that you specify. We are happy to make suggestions after a visit to your store to assess your inventory. In addition, we offer business consultation services to help you with things like store layout, identifying the sources of lost revenue and solutions to correct inefficiencies.
What you have in your inventory is considered a business asset. An asset is something that the business owns and is part of the net worth of the business. A report of your inventory can level out your business’ net worth and be a beneficial tax reduction strategy.
Assessing assets, including inventory, is an essential part of any retail business operation, and we highly recommend that every retail business owner develop a system of reviewing and documenting inventory.
When done properly, a thoughtful inventory management process can save a retailer money by reducing payroll, overstocks and out-of-stocks. In addition, by utilizing an inventory management software, you can use reporting features to stay on top of current quantities and forecasting, and built-in quality control measures to ensure the right product is always getting to the right customer, every time.
Yes, regular inventory counts are a critical part of theft control. If customers and employees get the idea that no one is tracking inventory, they will tend toward carelessness at best and outright theft at worst. When a retailer incorporates inventory management as a regular part of their operations, others tend to be on better behavior. Inventory audits can also help pinpoint where and when theft is occurring.
The first step in organizing your business inventory system is to set up your stock and supplier information in a reliable and accessible system. Some retailers use manual tracking methods, but the best option by far is a budget-friendly POS system. If you need a recommendation for a POS system that will work best for your type of business, give us a call and we would be happy to help!
One of the best ways to ensure efficient operations is to have a system in place to accurately receive inventory. According to the National Retail Federation, 28% of inventory shrink is attributed to supplier mistakes that aren’t caught during the stock receiving process. A sound process that includes checking all stock receipts against purchase orders minimizes these losses.