Simultaneous Acquisition Inventories of Pesticides
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 simultaneously count multiple locations for an acquisition.
The investment management company required RGIS to provide the following:
- Simultaneous inventories at 10 different locations
- Pesticides and agricultural supplies to be counted
- Count, verify and report on 100% of the items
- Evidence to be provided of any expired or damaged products
SOLUTION
The investment management company partnered with RGIS to complete the simultaneous acquisition inventories of multiple locations, and provided the following:
- Photographs were taken of any expired or damaged products
- All inventory count data was consolidated
- Completed a sample audit of third-party products
- Scheduled a team of 60 experienced RGIS auditors
- No barcodes, so counts were completed by product codes
RESULTS
The investment management company found by outsourcing the simultaneous acquisition inventories of multiple locations to RGIS, the following results were achieved:
- Stock counted at all 10 locations with a financial value of over €12,700,000
- 100% of the items were accurately counted and audited to survey expired and/or damaged products
- Stock variance value of €722,000 found
- Identified all expired products which represented over €89,000
- Presented all financial and analytical reports which finalised the acquisition process