Process

INVENT Xpert allows companies to turn inventory days into working days. INVENT Xpert offers two different methods for the inventory sampling procedure to ensure that this goes smoothly.

INVENT Xpert estimation method

The inventory sampling procedure with the INVENT Xpert estimation method can be carried out as both a periodic inventoryand a permanent stocktaking.

With the INVENT Xpert estimation method, the total value of the warehouse under consideration is extrapolated on the basis of a sample. The inclusion scope with the INVENT Xpert estimation method is between 5 and 15 % of the elements of a population. The assimilation can be spread over the year, but also be carried out on one day. INVENT Xpert uses the practically proven process of estimating differences. The mean value of the actual inventory differences is calculated and extrapolated to the rest of the elements.

INVENT Xpert sequential test

A test method such as the INVENT Xpert sequential test checks whether the book amounts of the warehouse accounting are correct and can be used as a basis for balancing during the stocktaking. The INVENT Xpert sequential test can thus only be used in warehouses with a very accurate inventory management (balanced inventory differences below 1 %, small number of single differences). The sample size in the first year is 270 samples, irrespective of the number of stock items, only 70 samples are needed in the 2nd and 3rd year with good inventory management. The INVENT Xpert estimation method is included in the scope of supply of the sequential test.