Financial inventories are fast, accurate counts that provide immediate results to our clients. They are also the most common and basic of all inventories. Typically, these inventories provide a retailer with retail dollar totals for the merchandise in a store, along with other financial information as requested by the client. The resulting figures can be used to determine the cost of goods sold and gross profit margins. The department information from an inventory of this type can be used to monitor shrinkage and control inventory, as well as to provide marketing information and statistics.
The key to providing useful financial inventories is combining accuracy with detailed preparation by the client. Prior to an inventory, the management will meet with the customer to confirm the time and date of an inventory, determine the exact scope of the count, provide instructions for preparation, and explain the inventory procedures.
Each inventory crew is headed by an experienced manager responsible for instructing the crew on what to count and on the appropriate procedures for conducting the count. This crew manager ensures that the inventory is completed quickly with the highest level of accuracy and professionalism.
The crew manager will “Map the Store”, by laying fixture tags on every location in the store. This information is also entered into the inventory computer to ensure that all parts of a store are counted once and only once. Areas are flagged as they are completed, the crew manager tracks results, and store personnel verifies that all the items in the store have been inventoried.
Technology also plays a part in ensuring accuracy and providing immediate results. Data is captured on hand-held terminals that incorporate error- checking routines. As areas are completed, data is recapped and verified, and totals are compiled for on-site verification. Golden State Inventories assure accuracy and productivity that are basic to the success of a financial inventory. As a final guarantee of satisfaction, our crews do not leave the site until our client is completely satisfied with the inventory.