Dual-Vendor Stocktakes

As we begin a new year, January is typically a time for reflection and goal planning for many retail companies. As the financial year for many companies comes to a close at the end of March, it’s a busy time for both in-house staff and external stocktake companies to prepare for the annual or bi-annual physical counts.

At Orridge & Co., we understand the importance of having a continuity of service that delivers on the needs of our customers. We are fortunate to have sole provider status with national UK based companies that have spanned decades. However, we also understand the importance of the tender process as it allows both parties to drill down into the key service points and ensure that the return on investment is as clear as it was at inception.

We would like to take this opportunity to discuss the benefits of having a dual vendor approach, particularly for those companies that are currently conducting their stocktakes in-house but are considering an alternative solution such as outsourcing to a professional stocktaking provider.

One of the main benefits of the dual vendor approach is capacity. With retail companies sometimes constrained by their auditors to complete as many physical counts as close to year-end as possible, having two companies able to share the workload can make it easier to schedule within the demands of the day-to-day business of in-store operations. Additionally, there may be a cost-benefit as the incumbent supplier may sharpen their pencil when they see a viable alternative being looked at. Furthermore, competition can push companies to be the best they can be, and remove any complacency that may have been built into the commercial relationship.

We have a streamlined business model and centralised approach to our stocktake functions such as scheduling, client relations and European coverage from our stocktake teams. We welcome the opportunity for further discussion and look forward to the possibility of working together to find the best solution for your company.