Procurement & Stock Audit Services
With decades of experience in implementing best practices in supply chain management and strategic sourcing, Source One provides procurement & Stock audit services tailored to your organization’s needs.
Procurement Audit Services
While an organizational change is often the catalyst for process improvement, best-in-class companies don’t wait for an issue to arise before thoroughly assessing and understanding the procurement function. For these companies, procurement audits are a strategic measure to identify areas of opportunity whether it be in cost reduction, benchmarking current contracts, or improving overall operating efficiency.
If you’re looking to enhance your procurement organization, recover money and expenses from suppliers, get control over your sales and use tax payments, or compare your suppliers and contracts to the market, 2Max Solutions has the right procurement audit services to meet your needs.
A successful procurement operations audit doesn’t just uncover the root causes for your current challenges. The procurement audit and assessment also helps identify opportunities to establishes processes and procedures for long-term sustainability and efficiency. 2Max Solution’s procurement transformation advisory services (operational procurement audits) assess the state of your procurement organization’s people, processes, and technology to identify not only the challenge areas, but also identify your organization’s strengths and best practices. Our procurement operations audits will help compare you to your peers and will outline the strategies, processes, people, technologies and procedures you must implement to be considered leading-class. Our decades of procurement auditing experience and holistic approach will help you chart the course to take your procurement operations to the next level.
Whether your procurement organization is preparing for a strategic sourcing initiative or looking to compare your contractual relationships to industry peers, having access to current market intelligence is critical. Our Benchmarking Audit Service is a fundamental and effective way of understanding how your organization compares to your peers and will help improve your contracts with suppliers. Without exhausting time and resources conducting extensive research, many companies lack the data necessary for a proper benchmark report; so let us audit your contracts and relationships for you. 2Max Solution’s benchmarking and supplier contract audit services can help in dozens of categories and provide clients with actionable reports backed by our proprietary market intelligence.
Stock Audit Services
Stock Audit is an area of specialization and core competence for 2Max Solutions Team.
Fixed Assets, Stocks and physical assets such as raw materials are important real assets and need repeat watch. As a large number of companies are operating across the borders through multiple locations, some even with various channel partners, ensuring this watch is challenge. We offer our focused services to companies to keep them assured of their physical assets. Our special Stock Audit team follows a strict audit and reporting mechanism that strives for best and makes sure that each minute aspect of stocks is evaluated and findings are reported in a transparent manner to levels concerned. Stock audits are also undertaken for banks and other financial institutions which have extended credit to businesses against physical goods and assets. We have big enough network throughout Kenya for quick and simultaneous audits at multiple locations.
We take full care to provide you with comprehensive and most accurate figures of inventories. During this audit, all the records of purchase, sale and movements of stock is taken carefully.
Key benefits of Stock Audits:
- Identification of slow moving stock, obsolete stock, dead stock and scrap
- Avoidance of pilferage and fraud
- Instant information of value of inventory
- Cost reduction and bottom-line
- Special arrangements for third party opinion, including for Agent warehouses
- Reduction in gaps in present inventory management process
Advantages: Stock audit is becoming more important as businesses is becoming multi-location and vendors, dealers, partners becoming a key to the business process. Assets like stock, physical equipments and machinery and even people are located in any of the above premises and a good control mechanism is the need for the smooth running of the business. Following are the main aspects which are taken care while performing stock audit:
- Reviewing cut-off procedures and scrutinizing the follow up
- Verification of physical stocks
- Verifying stock register
- Reports on Stock pilferage/damage reports
- Comparison of Financial Records with others like stock register
- Reporting on discrepancy
- Valuation and verification of Stock-in-transit
- Verification of Stock valuation