An independently owned pharmacy near the town of Rockhampton, Australia, required the support of RGIS. The purpose of the stocktake was due to the sale of the business and a stocktake was sought to provide a valuation of stock.

REQUIREMENTS
RGIS has conducted many sale of business stocktakes in the region, so RGIS were chosen due to experience and reputation. The vendor and the purchaser required a valuation of stock on a Sunday, so that the business transaction could take place on the Monday. The independent pharmacy required RGIS to provide the following:

• Experience within a pharmacy environment
• Provide a full stocktake of the pharmacy
• Very quick turnaround of completing the count for the sale to proceed
• Reports to enable the customer to value the stock on site correctly
• Must provide accuracy as a priority
  

• Scheduled a team of 14 experienced RGIS auditors from two districts
• A stock file from the pharmacy Point of Sale (POS) was provided and stock details loaded into RGIS handhelds
• Expired stock was removed from the shelves prior to counting
• Scanned all stock both on the shop floor and in the back stock rooms
• Following the counting of each section, location reports were provided to the vendor and purchaser for checking

• RGIS teams counted 54,000 units at a value of $530,000 AUD
• An accurate stock valuation was provided at the end of the stocktake and updated stock on hand values loaded back into the store POS, in readiness for the purchaser to takeover
• Counts completed within the tight time-frame given so the sale could proceed
• Both the vendor and purchaser were happy with the result and settled based on the stock valuation provided by RGIS