Accurate Inventory Counts to Reduce Shrink
The music entertainment group represents distinctive cultural attractions that draw visitors from all across the globe. Customers take great pride in being a key player in the past, present and future of American music. Whether purchasing online or visiting one of the on-site retail shops, customers can count on exclusive, high-quality, memorable goods and souvenirs inspired by their venues, their history, and the millions of music fans that help them keep the music playing.
REQUIREMENT
The music entertainment group needed a solution to capture accurate inventory counts as the previous service provider had issues with accuracy, challenges with technology, as well as staffing deficiencies.
The music entertainment group required RGIS to provide the following:
- Discussions to fully establish the key objectives and understand what the music entertainment group wanted to accomplish
- Count seven retail locations and one warehouse
- Accuracy as a number one priority
- During the inventory carry out separate accuracy checks alongside the music entertainment group
- Ongoing communication and work as a partnership with the music entertainment group
SOLUTION
The music entertainment group partnered with RGIS to complete the inventory accuracy project, and RGIS provided the following:
- Scheduled a team of 83 experienced RGIS auditors
- Onsite testing was completed to ensure the count worked with the customer’s operating procedure
- Counts were completed over two days
- Constant communication between RGIS and the music entertainment group – a timeline of actions and events were put in place for all stakeholders including store operations to be made aware of process progression
- RGIS team completed 50% of stock accuracy checks during each inventory
- The music entertainment group’s team completed a separate 50% of stock accuracy check during each inventory
RESULTS
The music entertainment group found by outsourcing the inventory accuracy project to RGIS, the following was achieved:
- All seven stores and warehouse inventories were completed within the two day time frame as specified by the customer
- Shrink was so small the customer couldn’t get a number on the calculator to record it
- Accuracy was excellent, which gave the customer confidence in the stock levels at all stores and the warehouse