Monitoring Inventory Using CCTV: Is That Enough?

You've been suspecting some funny business going on with your inventory lately. Discrepancies between physical stock counts and sales & purchase records have become common place, without any clear reason.

Naturally, you decide to start your investigation by viewing CCTV recordings from the past 2 weeks. (Thank God, your CCTV is actually working. Phew!) So what do you find?

Well, it's hard to say. The video records do show your employees moving inventory in and out occasionally but is that as expected or is it potential proof of any theft or loss?

Clearly, there's still a wide information gap because you don't yet have the full picture of what is actually happening with inventory. How can you close this gap, going forward?! We'll tell you how we do it for our accounting clients:

We start by setting up a comprehensive inventory management system which includes:

• regular physical inventory counts,
• tracking of incoming and outgoing shipments,
• and reconciliation of inventory records

This system is largely automated which helps us ensure that real-time inventory levels are accurate and that any discrepancies can be identified and addressed promptly.

The point is this: Whilst CCTV can be a valuable part of an overall inventory management strategy, it should be used in conjunction with other measures to ensure the accuracy and security of inventory. That's how you get the full picture.

Do you want better control and increased visibility over your company's inventory?

We support you to plan, track and value your inventory, with ease and confidence, as part of our Real-Time Accounting & Advisory service.

Visit charlesardor.com/rta for our rates and to book an enquiry call.