As Dubai and the UAE government officials keep trying to keep business transactions transparent, they have given birth to a new industry. This new industry is inventory verification services.
When you are opening a business in Dubai you will want to keep control of your inventory and stock. It is not always an easy task to do but as they say ‘ if you control your inventory, then you control your profit.
When you are letting an expensive commercial property for your business, then you need to make sure you are making a healthy profit. The loss of inventory means the loss of revenue and that loss means a loss of profit. That is never a good idea for a healthy business.
As we have said, the transparency priority in Dubai has made inventory verification a good industry to get involved in. There are lots of businesses that can make use of these services so that they know how much stock they have on hand and so on.
One of the surprising things about this new industry is that it has opened the door for many entrepreneurs to create their own businesses and have a good lifestyle.
The services that we are listing here are just the tip of the iceberg of the available businesses that perform this service for your business.
Xact Auditing of Accounts- Not only will this company do an inventory audit of your stock, but they also offer their services for monitoring, protecting, and supervising your stock as well. Their audits help establish the value of the stock, who owns it, the accuracy of their count as well as prove the stock exists.
Aon Management Consultants- Their work in auditing and verifying your inventory includes identifying old and damaged goods, physically verifying the stock, giving a status report on the inventory, plus placing a value on it. They also provide other services that will help your business know what it has on hand and if it is good enough to ship out.
KRV Auditing- Their work covers a lot of ground. You can expect to get a physical labeling of all stock on hand, as well as count each piece of inventory for you. Then they identify items that are obsolete and provide supporting documents for the items on hand. This company also makes sure your company meets the legal requirements.
AIG- Not to be outdone, this company does the same type of audits that you get from their competitors. They also identify slow-moving inventory, as well as damaged or obsolete items. Plus, this company works with those businesses in the Free Zone as well as offshore companies and those located on the mainland.
ECAG- This is one more in the myriad of inventory verification companies that are ready and willing to help you and your business. Their work also helps you meet legal requirements as well as make your workplace easier for your employees. This company will also help you realize the value of your stored inventory and identify any weaknesses in your system
There was one real estate company that offers landlords an inventory verification for their property. ESPACE Real Estate creates a schedule of conditions that lets the landlord know the condition of any property they rent out.
This schedule covers the property in general and then focuses on the appliances, furniture, and so on. They make sure the landlord knows if any of his property has been damaged by tenants or what condition they were in when he let the villa, etc to new tenants.
This document is one more level of protection for landlords. At the end of the tenancy agreement, the company goes in and evaluates the current conditions of the property and its contents.
If there is damage to the property, etc., then the company deducts the amount of repair or replacement from the deposit.
There are probably just as many inventory management businesses in Dubai as there are inventory verification businesses. Managing inventory is vital to the health of the business and keeping track of what you have makes sure you know when to re-order or change if the item is slow moving.
What inventory management does for you is let your company know where your inventory is stored, how much of each item is stored, and how much you will need when it is time to re-order.
Also, inventory management identifies both slow and fast-moving products so you can make an intelligent business decisions. With this service you can do the following:
Make decisions about fast and slow-moving items
Improve your inventory by getting rid of obsolete items and only re-ordering them when it is necessary
Lower your storage costs as well as handling charges
Eliminate any risk of running out of popular products
Improve on your customer service and make it smoother, faster, and better for your clients
Create a stock placement strategy to cut down on transportation costs and help get the products delivered on time or sooner.
The benefits of working with a third-party inventory management company are that you get fresh eyes looking at your systems and making sure they are working to their fullest potential.
Their suggestions will help you streamline operations and make sure your business remains profitable.
When you need a good inventory verification service, give our company a call. We have over 10 years of experience connecting businesses with the top companies that provide this service in Dubai.
When you are letting space, it pays to know how much stock you will need, how much is there, and which products are moving too slowly for business comfort.
Give us a call today so that we can put our knowledge and experience to work for you and help you keep your business strong and healthy.
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