Case Study: Stocktaking Indonesia for a Health & Wellness Retail Company

Inventory accuracy plays a critical role in financial reporting, operational decisions, and audit readiness—especially for consumer product companies managing diverse SKUs across multiple branches. Without a standardised stocktake practice, discrepancies can accumulate, affecting both performance and compliance. 

A leading health and wellness retailer partnered with the team from InCorp Indonesia to conduct a comprehensive stocktake exercise across all its branch locations, ensuring accurate figures for year‑end reporting and stronger control over its nationwide inventory. 

The Challenge 

The company operates across eight locations and offers a broad product portfolio, including skincare, consumables, personal care items, essential oils, home wellness devices, merchandise, and promotional materials. This created challenges such as: 

• High volume and SKU variation make a full‑scale stocktake more complex. 
• Discrepancies between system records and actual stock were discovered during preliminary audits, highlighting the need for an accurate stocktake. 
• Presence of rejected and disposal items, which were not consistently accounted for in prior cycles of stocktake. 
• Inconsistent documentation and inventory practices across branches, meaning each branch’s stocktake process varied in method and accuracy. 

With the year‑end audit approaching, the client needed accurate, verified inventory data to support its financial statements. Standardising the stocktake process across all locations became urgent and essential to avoid material misstatements and to ensure operational continuity.

Our Approach 

InCorp Indonesia delivered a complete stocktake solution tailored to multi‑location retail operations. Our assistance included: 

• Full physical stock-taking across all branch locations and the warehouse  
• Reconciliation of physical vs. system inventory  
• Identification of discrepancies, rejected items, and disposal stock  
• Consolidated audit-ready documentation and reporting  

How We Worked 

To ensure the success of the nationwide stocktake, our team adopted a methodical, transparent approach that emphasized accuracy, efficiency, and coordination across all branch locations. Our team: 

• Conducted full-count and sampling methods  
• Validated unit pricing and valuation  
• Reviewed supporting documents such as stock cards, issuance forms, and incoming records  
• Coordinated directly with branch representatives for accuracy  
• Delivered a structured report highlighting findings, remarks, and recommendation points  

Expertise Applied 

Drawing on deep industry experience, our team brought specialised expertise to every element of the stocktake. These best practices ensured the process not only met compliance standards and improved data integrity but also delivered strategic value beyond basic inventory counting. 

• Inventory across all 8 locations was successfully verified  
• Discrepancies, rejects, and disposal items were identified and documented  
• Stock documentation was standardized and accepted for audit review  
• Overall stock accuracy improved significantly  

Why Stocktake Matters in Indonesia 

Accurate stocktake practices help companies: 

• Avoid material misstatements in financial reports by ensuring physical inventory matches system records. 
• Strengthen operational and internal controls through consistent stocktake routines. 
• Improve allocation, purchasing, and forecasting decisions by leveraging insights from frequent stocktakes. 
• Ensure readiness for external audits by having a reliable stocktake procedure and documentation in place. 

According to leading inventory‑management guides, a well‑executed stocktake is essential for maintaining accurate records and avoiding the negative impacts of inventory shrinkage and overstocking.  

Industry sources also emphasise that the term “stocktake” refers explicitly to the process of counting and verifying goods on hand. 

Why Accurate Stocktake Matters for Modern Retail Operations 

Accurate stocktake practices are a competitive advantage in today’s fast-paced retail environment. For multi-branch retailers, e-commerce operators, and consumer goods businesses, the implications of unreliable inventory data can be far-reaching. A well-executed stocktake enables organizations to: 

• Protect profit margins by reducing write-offs, shrinkage, and excess stock. 
• Enhance customer satisfaction by improving product availability and accelerating order fulfillment. 
• Make data-driven decisions using clean, verified inventory information from regular stocktake routines. 
• Support compliance with financial and tax regulations that require accurate inventory valuation and reporting. 
• Improve audit readiness by maintaining consistent, standardized documentation for every stocktake cycle. 
• Align operations with digital tools like ERP systems, which depend on precise inventory data for automation, forecasting, and analytics. 

This case study serves as a model for implementing structured stocktake processes. By following the steps and strategies outlined in this case study, you can meet industry demands while enhancing both internal performance and external compliance. 

Take Control of Your Inventory with InCorp 

Struggling to manage inventory across multiple branches? InCorp Indonesia (an Ascentium Company) offers reliable, nationwide stocktaking, inventory audit, and reconciliation services tailored to your business needs. Our services can help you:

• Ensure financial accuracy 
• Standardize multi-location stocktake processes 
• Be audit-ready, anytime 

Please fill out the form below to discover how our expert team can help you implement a robust, audit-compliant stocktake strategy, built for modern retail and consumer operations. 

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