A jewellery store chain that are based in Adelaide, Australia and operate two brands of jewellery stores throughout Australia, required the support of RGIS. The jewellery store’s items have a high cost value. There are approximately 29 smaller stores and 34 larger stores.
THE CHALLENGE
The customer required RGIS to provide the following:
- Fast and accurate turnaround compared to previous in-house counts
- Handling of products must be with care as many items are high value and very delicate
- All data for each product to be captured and reported electronically
Why RGIS?
The jewellery store chain would complete stocktakes in-house and it would take approximately one week to complete a full store count, from stocktake count to closing off reconciliation. The jewellery store chain wanted to reduce this time taken.
Our Solutions
The jewellery store chain partnered with RGIS to complete the high value jewellery stock count, and provided the following:
Smaller stores: RGIS scheduled teams of 2-3 experienced auditors
Larger stores: RGIS scheduled teams of 7-9 experienced auditors
Detailed and well executed store preparation was fundamental in achieving an accurate stocktake result
Stock was very delicate as there are lots of small pieces of jewellery, so a lot of care and attention to detail was required when counting, and cotton gloves had to be worn
Data was captured for each product including LOT and serial number
Variance check was completed in partnership with the store staff
Stocktake data was returned back to the customer to load into the POS system to update the stock on hand levels
Results
The jewellery store chain found by outsourcing the high value jewellery stock count to RGIS, the following results were achieved:
All the stores were accurately counted in a timely manner
An average of 1,230 units were counted per smaller store
An average of 4,200 units per larger store
Conclusion
All store counts and results were completed in one day resulting in a more accurate stock on hand position, without having to track a weeks’ worth of sales when compared to the previous internal stocktake program.
