The objective of inventory verification is to examine and validate the existence and location of inventory items in a main inventory control system.

Proper inventory recording is of utmost importance to report accurate profit or loss of the company. Valid and updated inventory information is required to evaluate the working capital and cash flow requirements, and therefore proper planning in this regard can be made that is vital for business prospects.

Periodic physical verification of inventory helps to identify variances between physical and book quantities. Internal controls on inventory movement, accounting and safeguarding of inventory are significant to reduce operational losses, thefts and unauthorized write-offs.

What can we offer

Our accounting and bookkeeping experts provide a complete inventory verification process, inventory controls, tagging of physically verified stocks, identification of damaged and slow moving or obsolete items, ascertain variances from book quantities and recommend the areas to improve inventory documentation and controls.

We formally design an Economic Order Quantity (EOQ) model for our clients to suggest the quantity of goods to be purchased each time whenever required, which ensures the lowest inventory maintenance cost as well as avoid stock out cost.

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