Welcome to IISCM.org. I am your host Venkadesh Narayanan. Today, we are going to discuss the What, Why and How of Inventory Auditing.
Inventory auditing is the process of reconciliation between the quantities of physical inventory and the quantities of logical inventory. Here physical inventory refers to the inventory we have on-hand, hence also known as on-hand inventory. And logical inventory refers to the inventory we have on the books or in your ERP or in your system.
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