Inventory Variance Reporting

An electrical goods retailer with 12 retail outlets and a huge online shop selling over 16,500 product lines, required the support of RGIS.

The electrical goods retailer needed an inventory that would increase accuracy levels and give the variance of stock held.

The specialty retailer required RGIS to provide the following:

  • National coverage to be able to attend all stores
  • Experienced auditors with retail experience
  • Reporting that can combine inventory counted, variance of stock and items not counted
  • To be completed during working hours with no disruption to business, staff or customers

The electrical goods retailer partnered with RGIS to complete the inventory variance project, and RGIS provided the following:

  • Worked closely with stores to confirm scheduling restrictions
  • Created a bespoke program for the customer, which was tested before rolling out to all stores
  • Regular contact with all store operations teams
  • Review of both stock/back room and sales floor preparation
  • Accuracy checks conducted at all counts

The electrical goods retailer found by outsourcing the inventory variance project to RGIS, the following results were achieved:

  • Reduced time previously spent on inventory by 50%
  • Accurate inventory results for all stores
  • In-house employees are no longer pulled away from regular sales tasks