Optimising Inventory Accuracy for Energy Management Company With Advanced Technology
Case Study
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Units
54,000
Auditors
14
A priority
Accuracy
An independently owned pharmacy near the town of Rockhampton, Australia, required the support of RGIS. The purpose of the inventory was due to the sale of the business and an inventory was sought to provide a valuation of stock.
THE CHALLENGE
RGIS has conducted many sale of business inventories in the region, so RGIS were chosen due to experience and reputation. The vendor and the purchaser required a valuation of stock on a Sunday, so that the business transaction could take place on the Monday. The independent pharmacy required RGIS to provide the following:
- Experience within a pharmacy environment
- Provide a full inventory of the pharmacy
- Very quick turnaround of completing the count for the sale to proceed
- Reports to enable the customer to value the stock on site correctly
- Must provide accuracy as a priority
Why RGIS?
Customers choose RGIS for pharmacy inventories because our trained teams deliver highly accurate, compliant counts of prescription and OTC stock, ensuring regulatory confidence, reduced discrepancies, and reliable data for safe, efficient pharmacy operations.
Our Solutions
The independent pharmacy partnered with RGIS to complete the inventory count for business sale project, and RGIS provided the following:
Scheduled a team of 14 experienced RGIS auditors from two districts
A stock file from the pharmacy Point of Sale (POS) was provided and stock details loaded into RGIS handhelds
Expired stock was removed from the shelves prior to counting
Scanned all stock both on the shop floor and in the back stock rooms
Following the counting of each section, location reports were provided to the vendor and purchaser for checking
Results
The independent pharmacy found by outsourcing the inventory count for business sale project to RGIS, the following results were achieved:
RGIS teams counted 54,000 units at a value of $530,000 AUD
An accurate stock valuation was provided at the end of the inventory and updated stock on hand values loaded back into the store POS, in readiness for the purchaser to takeover
Counts completed within the tight time-frame given so the sale could proceed
Conclusion
Both the vendor and purchaser were happy with the result and settled based on the stock valuation provided by RGIS.
