Stock usually represents a significant portion of a company working capital and current asset investment that need effective control so as to be freed of a “level of discrepancy”. As a seasoned Inventory Control Manager experienced in Physical Verification and Reconciliation of Stock both in the warehouse and stores,
Management needs to be comfortable and confidant with the situation in the stores at all times. Where otherwise, the need for an effective and efficient stock counts and verification exercise should be put into consideration.
The resulting report from the exercise will form a standard platform of building control that will minimize the level of discrepancy in the store.