Stock Audits In Hyderabad

There are several key reasons why an institution needs to perform a stock audit, including:

• Identify the slow-moving stock, deadstock, obsolete stock, and scrap
• Find out discrepancies between book stocks and physical stock
• Update the physical stock that matches book stock
• Make sure the proper preservation and handling of stocks

Stock audits is also an important factor in determining the benefits that should be offered to institutions. These are the key benefits of stock audits:

• To reduce cost and bottom-line
• To prevent pilferage and fraud
• As information of the accurate inventory value
• to reduce gaps in the inventory management process
• As special arrangements for third party opinion, including for agent warehouses
• As a good control mechanism in running the business