Acquisition Inventory and Damaged Product Audit of Agro Products
One of the largest alternative investment management companies that focuses on Latin American assets required the support of RGIS. The investment management company invests in several segments in Brazil: agribusiness, pharma, food sector, among others and sought RGIS as a partner to carry out its acquisition inventories in several sectors.
REQUIREMENT
The investment management company needed experienced stocktakers that could count and identify damaged agro products for an acquisition inventory, so required RGIS to provide the following:
- Meetings with the customer to define a specific procedure for carrying out the inventories, preparation and reporting requirements
- Carry out four simultaneous inventories at different locations
- Agro products to be counted including pesticides and grains
- Count, verify and report on 100% of the items
SOLUTION
The investment management company partnered with RGIS to complete the acquisition inventory and audit of damaged products, and provided the following:
- Within the preparation process a book with photos was created by RGIS for identification of all products
- Scheduled a team of 30 experienced RGIS auditors
- A sample audit was completed of third-party products
- Financial and analytical reports were presented with the consolidated result of the inventories
- Products were checked against invoices
- As there were no barcodes, counts were completed using product codes
RESULTS
The investment management company found by outsourcing the acquisition inventory and audit of damaged products to RGIS, the following results were achieved:
- Counted over 690,000 pieces with a financial value of over €4,700,000
- 100% of the items were accurately counted and audited to survey expired and/or damaged products
- A total of 2597 items were identified in orders without invoices, which represented just under €20,000
- A total of 2921 items had expired which represented over €69,000
- Presented all financial and analytical reports which finalised the acquisition process