November 6, 2019

How To Save Time On Your Annual Inventory

Author: Stockpile Reports

Many of our clients use our inventory measurement solutions year-round to prevent discrepancies, improve the quality of their data and baseline measurements, and reduce the risk of costly write-offs. One of the most important annual inventory measurements we do for our clients is a year-end complete inventory count. This inventory count is often figured into the P&L statement to determine how profitable a company was over a one year span.

Reduce Stress and Tension

Companies need to determine their year-end inventory volume and assign a monetary value to it. Inventory is considered an asset and must be accounted for in financials.

Year-end is a stressful time for our clients because the process of measuring inventory can be time-consuming and it can be costly. Depending on the size and scope of your company, your resources are traveling between worksites, sometimes thousands of miles apart, under tight deadlines to ensure a complete inventory is measured. This task may be impossible to meet.

That’s where Stockpile Reports comes in. We help reduce the stress and tension that is associated with year-end inventory counts. We send highly trained drone pilots to your worksites, all on the same day, to measure your stockpiles. You’ll have your inventory volume reports back within a few hours. Just like that, your inventory is complete! The best part is… it’s affordable too.

Provide Third-Party Compliant Data

At year-end, your inventory data is reviewed by internal and external sources. Sometimes even by a group of auditors. It is crucial that you have reliable data that sources can review and trust. It needs to be consistent and be repeatable without deviation to ensure compliance.

Because our system auto-detects stockpiles, our system is third-party compliant. You will no longer have to point and click points on a map to determine the base outline of a pile, exposing your financials to human inconsistencies and inaccuracies. This ensures that no matter who takes the measurement, the results are consistent and reliable and backed by archived images with date, time, and location appended.

Three Solutions for You

We believe that different companies require unique, customizable solutions. Some companies use one solution or a combination of all three of our services.

Our first and most well-known solution is the drone service, which can be DIY or partner with us to do it for you. Companies can fly their own drones to measure their inventory or you can have our drone pilots come onsite and complete the measurements.

There are benefits to both. If you’ve already invested in a drone and you have only a few worksites that are in close proximity to each other, flying your own drone might be ideal for you. If you have more than a few worksites or your worksites are more than a few miles apart, it might make more sense for you to have our drone pilots come to your sites and measure. When we fly for you, we can save you a significant amount of time and money.

Our second and most popular solution is our iPhone app. The inventory measurement app can be used to take measurements from the ground. Anyone with an iPhone can take inventory measurements. This is good for tight spaces or worksites where the airspace is restricted, such as being near an airport, etc. The iPhone is also great for spot-checking orders and deliveries to ensure they are accurate. One other benefit of the iPhone app is that it improves safety. Your employees will no longer put themselves or others at risk climbing on or around piles to take measurements. They can take them from the ground, improving safety and reducing the risk of a costly accident.

Finally, our newest solution is fixed cameras based measurement. Affordable, easy to implement cameras monitor your inventory in near-real-time. The days of ordering too much or fearing you’ll run out of inventory are over. You’ll be able to harness the power of near-real-time monitoring paired with the convenience and reliability with auto-replenishment. Companies all over the country are implementing these cameras to avoid the hidden costs of too much inventory. This solution is a game-changer for the building material industry.

All Businesses Are Unique

Stockpile Reports works closely with companies to learn and understand their business goals and needs. We then aligning solutions that will help improve their inventory measurement processes and operations. If you are interested in learning more about our solutions and how they can help impact your business not only at year-end but year-round, contact us!