Retail Stock Audit for a Smartphone Brand

Objective

Stock availability and status is an important aspect of any business as it determines how a brand can optimally meet the demand of its products while ensuring minimum investment in working capital.  With a view to evaluate the physical stock available with its channel partners and to drive consequent actions basis the same, the smartphone division of the client undertook pan India stock audit which covered:

• Re-distribution partners
• Retail outlets manned by in-store demonstrators

Approach

The key challenge of the program was planning and execution of audits at 1300+ distributor / retailer outlets within a window of 20 days. The approach adopted to successfully deliver the scope of work was as under:

• Detailed auditor visit planning along with back-up plans to ensure timely data collection
• Comprehensive training of auditor followed by assessment and certification
• Focus on quality checks to ensure reporting accuracy
• Close monitoring of the process in order to quickly identify & rectify any gaps in execution

Outcome

Physical stock count was done at designated distributor and retail outlets across the country within the agreed timelines. Basis the same, following information was shared with the client:

• Store level details of stock with individual model number and IMEI number
• Region wise summary and model wise stock report

Basis the information, client was able to do a reconciliation of the channel stock as reflected in the system versus "as-is" status captured by the stock audit.