Key Features:
- Cycle Counting: Regular, systematic audits of inventory segments to ensure accuracy without disrupting daily operations.
- Wall-to-Wall Inventory: Comprehensive physical inventory counts to fully reconcile stock levels with financial records.
- Inventory Valuation: Precise calculation of inventory value using FIFO, LIFO, or weighted average methods for accurate reporting.
- COGS Tracking: Seamless integration of inventory movements with Cost of Goods Sold for detailed profit and loss reporting.
- Vendor Scorecards: Performance evaluation tools to measure vendor reliability, delivery timelines, and cost efficiency, linked to financial impact.
- Expense Tracking: Comprehensive tracking of supply chain costs, including warehousing, transportation, and procurement.
- Discrepancy Accounting: Accurate recording and reconciliation of inventory discrepancies, shrinkage, and obsolescence.
Benefits:
- Inventory Accuracy: Maintain precise stock records to support operational and financial transparency.
- Financial Insights: Link inventory and supply chain data with accounting for better decision-making and profitability analysis.
- Operational Efficiency: Streamline inventory and supply chain management, reducing waste and inefficiencies.
- Compliance and Standards: Ensure adherence to accounting standards and regulations for inventory and procurement.
- Vendor Accountability: Improve supplier relationships with data-backed performance evaluations.
How It Works:
- Consultation: Discuss your inventory, supply chain, and accounting needs to create a tailored solution.
- Setup: Implement systems to track inventory movements, supply chain costs, and vendor performance seamlessly.
- Ongoing Management: Regularly conduct cycle counts, manage inventory adjustments, and oversee supply chain expense tracking.
- Reporting: Deliver detailed financial reports, including inventory valuation, COGS, and vendor performance metrics.
Streamline your inventory and supply chain processes while ensuring financial accuracy. Contact us today for a customized quote!
