Stocks are valuable assets within an organization that is easily prone to damage, expiry, wastage or fraud. An inventory verification process helps in examining and validating the existence and location of stocks. Accurate accounting of inventory is vital to a robust bookkeeping system and MIS reporting.
Physical verification of assets on a routine basis is not an easy process and it needs proper planning, resource mobilization, and expertise.
Inventory verification includes appropriate marking of physically verified stocks, figuring out whether any items are damaged, slow-moving or outdated and also deriving variances from book quantities and identifying the lack of necessary supporting documentation.
Our experts at AON Consultants will make the process of inventory verification easier and give you better control on inventory counting process. We are ready and equipped to give you more insights into your stock along with a proper reconciliation of existing stock records. We make use of latest technologies to ensure that our clients have the right inventory at the right time.
AON Consultants help in identifying old or damaged inventory and our services include;
Physical Verification of stock
Physical status reporting
Valuation of inventory
Assistance with inventory coding and categorization
Our Inventory verification and valuations services team will check for any excess/shortage of materials in stock and also helps in identifying old/damaged inventory.
Inventories are one of the most important assets of an organization and hence, proper measurement of these inventories is significant to get a genuine and reasonable picture of the financial position of the business.