Inventory Management And Systems

Streamline Inventories
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Why Do You Need Inventory
Management Services?

NOW CFO provides a full-functioning inventory management system, which is one of the most important accounting systems to have in place as a business. As the basis for tracking inventory levels, orders, sales, and deliveries, the main goal of inventory management is to streamline inventories to help avoid potential obstacles and shortages. An inventory shortage can be incredibly detrimental to an organization. A successful inventory management system will streamline operations and improve your profit.

Whether your business is small or large, inventory management is important and necessary. Inventory management strategies vary based on the size of the organization and type of industry, so NOW CFO cost accountants create the perfect inventory management strategy for your company’s unique specifications.

  • Job Costing
  • Inventory Analysis
  • Data Gathering
  • Lower Cost or Market Analysis
  • Managing Inventory Systems
  • Inventory Methodologies

NOW CFO Inventory Management Expertise

We have vast experience in job costing, inventory analysis, data gathering, lower cost or market analysis and multiple inventory systems and methodologies. Simply augmenting your accounting team at peak times or upgrading your staff can be the most effective solution.

Management of your cost of sales is the single most important aspect to knowing your appropriate sales price. Our professionals work closely with operations to manage your inventory and cost to maximize your company’s ability to produce profits.

Inventory management

Qualifications For Performing Inventory Management Services

A great cost accountant professional must have strong communication, interpersonal, analytical and technical skills. NOW CFO cost accountant consultants possess and use these necessary skills to identify your company’s specific needs and then tailor a solution that provides you with the best opportunity for success.

Our cost accountant professionals will work closely with operations to manage your inventory and cost to maximize your company’s ability to produce profits. They will also make recommendations for the operational accounting function and system improvements.

43% of retailers ranked inventory management as their number one day-to-day challenge.

How We Keep Your Inventory Up-to-Date?

  • Define and document processes
  • Evaluate employee training requirements
  • Improvements to storage areas
  • Recommend improvements to information flows
  • Review and recommend methods for order picking operations
  • Evaluate and recommend cost accounting initiatives
  • Implement new or optimize existing software technologies
  • Develop and implement departmental productivity tracking systems
  • Implement customized cycle counting and physical inventory programs
  • Provide expert insight on material handling and warehouse design
  • Manage changes to the inventory valuation method
  • Make improvements to the inventory management and cost accounting
  • Optimize and determine inputs for decision-making tools related to inventory
  • Optimize and determine inputs for decision-making tools related to job costing
  • Complete and timely inventory cost reviews, audits, and evaluations
  • Implement loss prevention oversight for fraud prevention and detection
  • Report on working capital factoring or collateral agreements
  • Perform audit preparation, product margin reporting, and tracking

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