Supervised Inventory Services.
What is a Supervised Inventory?
A professionally trained Bowh Auditor conducts a thorough and complete inventory with the assistance of in-store personnel. An auditor arrives at the store location an hour prior to the start of the inventory. The Auditor reviews the inventory process with the Store Manager and together they define and tag all merchandise areas which are to inventoried. Prior to starting the inventory the Bowh Auditor conducts a 15-training session with the store personnel who will be participating in the scanning process. The equipment we use is state-of-the art and our propriety scanner software “The Scan Solution” is the most versatile and user friendly software in the industry.
What are the advantages of a Supervised Inventory?
- Cost
- Oversite
- Training
- Standardized Procedures
- Save the time and energy corporate headquarter personnel and/or regional staff spend planning, training, and preparing for the inventory process.
- Eliminate the need to have headquarters personnel or regional staff attend inventories.
- Utilize the expertise of Store Personnel
- They know your merchandise
- They know the “nooks” and “crannies” where merchandise is kept
- They know the different ticket placements on your merchandise
- They will more easily spot incorrectly ticketed merchandise
- They know the difference between similar items
- They are concerned about doing it right
- They will prepare the merchandise better if they take inventory
- They will leave the merchandise in better condition
What are the disadvantages of a Supervised Inventory?
- Extended hours for additional store personnel scanning.
How much will a Supervised Inventory cost?
Our rates are simple and straight forward:
- On-Site Supervisor – $75 per hour (plus travel expenses if required).
- PDT rental – $12 an hour per PDT.
We only charge for on-site time, there are no rental, travel, computer set-up, file clean-up, or other hidden fees/charges.
While we have Auditors stationed nationwide there are some remote locations where overnight travel is required. If this is the case the client is charged for Air, Hotel, and Car if necessary. There is never a markup on travel expenses, clients are charged the actual rates paid by us.
What should we do to prepare for our inventory?
- Proper preparation is the largest determining factor as to the efficiency, accuracy, and cost of your upcoming inventory:
- Ensure all merchandise has a scanable barcode label (we can provide you with a scanner loaded with your UPC/SKU file in advance to help you ensure all barcodes are scannable)
- Organize back-stock.
- Attempt to clean up any open Transfers/Purchase Orders/Anonymous Sales/Exceptions.
- Work the your Bowh Auditor to determine proper staffing levels.
- Notify your POS company of the your inventory dates by store.
- If your store is in a mall, notify mall management of anticipated extended hours.
What happens when the scanning and double counting is done?
Once the physical inventory is completed the on-site Bowh Auditor immediately creates a file preformatted and ready for import into your POS. What happens next is up to you. This is another major difference between Bowh and other inventory companies. We can either:
- Send the formatted file to your company’s home office via one of the following methods; remote file transfer, e-mail, CD disk, USB transfer to the store computer (the preferred method of many larger retailers)
- Or your on-site Auditor can immediately import the file into your POS system at the store or thru remote access to your office. Our auditors are trained an knowledgeable with most POS software. If we have not worked with your POS provider previously, we will contact them in advance to obtain the necessary physical inventory procedures for your POS system.
Can you help us make sense of the results of our inventory?
Yes – We don’t end our service with the physical inventory like many auditing companies do; we can also provide guidance and insights into how to organize and analyze your inventory results. This reconciliation process allows us to analyze the data looking for shipments, transfers, freight claim, and damage errors. By correcting these errors and accurately updating your stores’ on-hand inventory, we can improve your company’s merchandise ordering. In addition, with this information we can identify loss prevention issues such as internal or external theft. Our auditing expertise allows us to give both you and your managers the knowledge they need to complete this process and develop accurate inventory analysis skills.