Physical Audits: Perform regular, surprise, and cycle counts of inventory at warehouses or retail locations.
Reconciliation: Compare physical inventory levels with records in ERP systems (e.g., SAP) to identify discrepancies, such as shortages or excesses.
Investigating Discrepancies: Analyze root causes for stock inconsistencies and identify potential risks like damage, theft, or shrinkage.
Reporting: Prepare comprehensive reports detailing audit findings, inventory accuracy, and financial impacts for management.
Compliance & Control: Ensure adherence to company policies, internal controls, and regulatory standards.
Process Improvement: Recommend improvements to inventory control procedures, storage management, and data handling to optimize operations.