What is a Stock Audit?

A stock audit is performed to physically verify the stock of inventory and report on the variance if any against the book stock. Necessary action and adjustment of the book stock are undertaken based on the stock audit. Furthermore, a stock audit involves verification of the status of stocks including reporting on non-saleable, non-moving and slow-moving stocks.

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How to Perform Stock Audits?

Stock audits across all points of sale or storage can be verified in a pre-scheduled manner or arbitrarily. Barcoded SKUs are verified using scanners while others are manually counted. Depending on the business needs, the audit could be conducted for 100% of the stocks, for select segments, or for test check basis.

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Are stock audits mandatory?

Handling stock audits periodically offer better control and assurance for certain key decisions. However, stock audits are generally handled annually for statutory compliance.

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How do I get stock audit done by Matrix and how does the pricing work ?

You may get in touch with us through email, please check ‘contact us’ on our site. We will get in touch with you to seek many relevant details post which we will submit a proposal.

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How quickly can a stock audit could be initiated and completed?

We can initiate audits rapidly within 24 hours for special circumstances. However, the need, scope, locations, and deliverables determine the timeline of a stock audit.

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