Retail or logistic companies invest significant amounts of money in stocks that make them available in their own stores, warehouses and locations, allowing them to better meet market demand. A proper reflection of their stocks in the ERP’s is essential to enable a proper SKU replenishment, but also to minimize the losses caused by bad administration or fraud.
Outsourcing stock inventory is a service that addresses retailers and logistics and distribution companies and enables them to achieve significant benefits by subcontracting inventory activities carried out at their locations to a specialized company. Inventory services is a modern product available on demand in any location in Romania and Balkan area.
Inventory is a mandatory activity, both legally and in terms of the manager’s business responsibilities, being necessary to ensure the normal operation of companies that handle merchandise. There are several signals you can figure out when you need to outsource inventory services:
- You have reached a large number of locations (over 10) distributed over long distances, and the mobilization of inventory staff has become a problem (you have difficulty into attracting staff to inventory comissions)
- The product master data has reached more than 5,000 codes. In this situation, it becomes increasingly difficult to manage an inventory, even with the use of barcode software, because exceptions or scan errors can occur when involving staff who do not have this daily experience.
- You have suspicions of fraud or manipulation of inventory results. If you are being reported stock loses in your store or if the inventory has always been in line with bookkeeping stock, it’s time to plan for an independent inventory check.
- You have very large stocks of merchandise, and you need to close down the store or warehouse to complete the inventory, which means you lose sales during the inventory.
Identification of products by inventory teams is mostly done through barcodes by loading product master data into mobile computers with barcode scanner. Inventory agents will scan the product labels one at a time so that product identification is safe and accurate. There are cases where if products do not have barcode labels, their identification can be done by entering product codes in the mobile terminal keypad.
The inventory procedure used by IDTotal allows detection and correction of any possible human errors occurring in inventory deployment. In each inventory location, unique code tags are used to determine a scanning area, and the IDStock + application automatically identifies any cases where a scanning area is not scanned or scanned multiple times, at product level.
We have teams across the country, as well as in the neighboring countries – Republic of Moldova, Bulgaria and Serbia, and we can cover multiple locations at the same time, both in the client’s work schedule and outside the program (at night or over the weekend). Therefore, by outsourcing, it is not necessary to interrupt the sales, while protecting the internal personnel of the company, who can carry out normal activity immediately after the inventory is completed.
The tariff for inventory services is determined by stock size, geographic distribution of stores, number of unique codes in the article master data, deployment period, and frequency of inventory completion. From a financial point of view, the outsourcing of inventory is a cost that has a return on investment from the very first location, given the lower costs, safeguarding of sales, the continuity of the usual activity and the higher level of accuracy and independence obtained.