WHAT IS AN INVENTORY AUDIT?

An inventory audit is a procedure that compares financial records, inventory records, and involves a physical count of all goods that a company is in possession of. Completing an annual inventory audit for your warehouse may seem like a daunting task, however, this leap into the current financial situation of your business is essential. Launch 3 is equipped to help with a range of inventory audit services. Contact us today!

WHY YOU SHOULD HIRE LAUNCH 3 AS AN EXTERNAL INVENTORY AUDIT SPECIALIST

Hiring an external auditor will ensure that the count is carried out by independent and impartial people. This will ensure there is no risk of anyone intentionally misreporting figures. Launch 3 will help you uncover the following:

  • Damaged or out of date items which cannot be sold
  • Obsolete items that you no longer stock
  • Discrepancies where you have more stock than expected
  • Discrepancies where you have less stock than expected
  • Calculate Profits
  • Accurate Budgeting
  • Physical Inventory Count

WHY IT’S IMPORTANT TO CARRY OUT AN INVENTORY AUDIT IN YOUR WAREHOUSE

Having an effective inventory management system in place will help you to speed up your inventory auditing process. The better your system, the quicker your audits will take meaning less disruption to your business. Audits can be less frequent and less complicated with the right system in place. Having a system that tracks your stock figures in real-time, rather than a static system such as a spreadsheet of stock figures will mean that your inventory will be more likely to be accurate. Run your warehouse with confidence. Contact us today for your free quote!