An inventory auditor keeps an eye on stock in a warehouse, store, or other similar location. This includes checking for losses, developing organizational strategies, and collaborating with company personnel to ensure that goods are handled properly. Employers may appoint an inventory auditor to oversee multiple locations, such as a chain of convenience stores located throughout a region. It may be necessary to have a bachelor’s degree in business or relevant experience in inventory control and development. Training tailored to your industry can be extremely beneficial.
Physically counting inventory and updating numbers is one aspect of the job. The inventory auditor reconciles daily sales and delivery reports, as well as product movement statements, with the actual contents of the facility. If there are discrepancies, it may be necessary to look into why they exist. This can be done with a handheld computer or tablet, which allows for quick data entry and updates.
Another aspect of the job is the risk of losing control. This includes better organization to make it easier to locate items and proactive theft prevention measures. Small items can be easy targets, necessitating careful monitoring and placement to keep theft to a minimum. A retailer might, for example, place easily pocketed products near the register to make it more difficult for customers to take them without being noticed. Other measures may be implemented to limit the opportunities for theft in a large warehouse that is only visited company personnel.
An inventory auditor can enter incoming items and conduct random spot checks at shipping and receiving. These checks ensure that all products are checked in, properly logged, and routed to the correct location. They also double-check that shipments contain the correct products, are properly packed, and include documentation to track inventory movement. An inventory auditor may examine financial statements for anomalies that could indicate fraud or other illegal activity.
This position necessitates familiarity with a company’s inventory, understanding of the management system, and a high level of ethical behavior. One of the people in the chain tasked with safeguarding a company’s financial interests is the inventory auditor. This could be a problem if this person has a conflict of interest, which could lead to situations like covering up or actively enabling theft. Employers carefully screen their auditors and may rotate or check in with them on a regular basis to ensure that they are still acting ethically on the job. Collaboration with other auditors and independent double-checking of work may also aid in maintaining the integrity of audit reports.