Retail Fixed Asset Verification Count
A French multinational retailer of personal care and beauty products required the support of RGIS. The retailer features nearly 3,000 brands, along with its own private label. The retailer offers beauty products including cosmetics, skincare, body, fragrance, nail colour, beauty tools, body lotions and haircare. The beauty retailer operates approximately 1,900 stores in 29 countries worldwide.
REQUIREMENTS
The beauty retailer needed a solution to verify retail fixed assets against the existing asset register, so required RGIS to provide the following:
- Count assets at 86 locations
- Complete all asset counts within eight weeks
- Check against the existing asset register
- Variances to be identified and reported
SOLUTION
The beauty retailer partnered with RGIS to complete the retail fixed asset verification project, and RGIS provided the following:
- The assets in every location consisted of IT assets and furniture, including cash registers, computers, scanners, barcode printers, access points, stands, racks and product expositions
- The customer provided RGIS with a picture and the description of the assets that were logged in the asset register
- The experienced RGIS team compared the serial numbers of existing assets with the data from the asset register to ascertain that the assets matched the asset register
- If the asset did not match either inventory number or serial number from the asset register, then a virtual temporary number was produced and all the information about the assets was recorded
- Variances were identified
RESULTS
The beauty retailer found by outsourcing the retail fixed asset verification project to RGIS, the following results were achieved:
- Accurate reporting was provided for every location
- Reports were signed by RGIS and the Store Manager as well as the final reports and files
- The reports included information about matching inventory or serial numbers that were scanned in a different location to where it belonged according to the register
- Final reports including variances were also sent directly to the customer’s HQ