Detailed, Accurate, Focused
Although, financial audits are still the most common in the convenience store industry, the number of chains implementing item level scan audits (ILSA) continues to accelerate every year. Quantum Services audit teams perform ILSA audits by scanning the barcode (SKU) for each product and entering the quantity. For ILSA audits to be reconciled, we compare the count for each item with the “on hand” book figure. This requires the price book be downloaded to the handheld data collection device that the auditors use. Preparing for ILSA’s involves a mindset shift from retail and category management to item level management for the store operator, accounting, and auditing teams.
Item Level Scan Audits provide:
- Detailed data. Determining the shortage or overage of each item can lead to a better understanding of the problem. ILSA’s also facilitate auto replenishment, reducing out of stocks and improving inventory turns.
- Pricing and department accuracy. Because the auditor does not have to manually enter the information, the overall accuracy of the audit goes up.
- Audit high-risk items more frequently. ILSA’s allow you to focus in on higher risk items in your inventory and audit them more often without counting the complete store or even a single category.
Whether your preference is a financial, item level or hybrid audit , the Quantum Services team delivers results. Give us a call at 800-777-9414 or fill out a short contact form to get started. We’ll listen to your needs and work with you to put together the solution that is right for you.
– GPM Investments, Richmond, VA