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Inventory Control

Protiviti provides process and data analysis solutions to identify opportunities for inventory reduction and improve overall inventory control and warehouse management processes and capabilities.

Companies operating in today’s dynamic environment and economy must have effective inventory planning replenishment strategies as well as efficient inventory control and warehouse management processes to be able respond to customer demand quickly and profitably. Carrying too little inventory can lead to excessive expediting costs, poor fill rates or stock outs, and ultimately, have an impact on customer service levels. Carrying slow-moving, excess or obsolete inventory unnecessarily ties up working capital, creates storage and capacity issues, and can increase overall handling costs from physical flow and efficiency issues.

Our approach includes:

  1. Analyzing data to construct inventory baseline, evaluate inventory metrics
  2. Reviewing existing inventory and warehousing processes
  3. Documenting potential drivers for inventory variance or excess inventory
  4. Evaluating key processes and controls and conducting testing and/or data analysis to confirm issues
  5. Performing best practice gap analysis (qualitative)
  6. Developing a plan to address root causes and identify specific steps to reduce inventory
  7. Developing a business case/ROI
  8. Developing an implementation plan

Benefits of improved inventory and warehouse management processes and capabilities include:

  1. Reduced inventory
  2. Lower carrying costs
  3. Improvement in inventory turnover
  4. Utilization of warranty contracts for spare parts (avoid double pay)
  5. Enhanced visibility

Our specific services include:

  1. Inventory Audit
  2. Inventory Reduction
  3. Cycle Count Process Implementation
  4. Assessment and Improvement of Inventory Control Activities
  5. Inventory Variation Analysis
  6. Inventory and Warehouse Management Process and Capabilities Improvement
  7. Benchmarking