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The Naked Dog Shop deals in Proteins for Pets. It has introduced the natural pet foods majorly for Dogs in varied flavors without compromising the nutritional value. The food has an abundance of essential protein, vitamins and minerals which a related nutrient supplements which helps boost the health of dog. The company now also provides healthiest Lifestyle, Heath & Grooming products for pets
challenge
There are ten branches of The Naked Dog & find difficulty in managing their inventory.
Due to high variety of pet products availability at their stores, the mapping of product flow and at the same time the retail management was a challenge
Vendor management was a complex process as the product marking and mismanagement of the inventory led to, at most of the times, wrong account projection.
Did not have a skill set to trace the transaction, track credit notes, returns and for invoice management.
Uniformity in accounting and bookkeeping process was lacking.
solution
Understood their accounting practices and standardized their inventory recording processes by modifying their templates and associating each with unique codes.
Vendor accounts were scrutinized for rightful effect of transactions on daily such records. Query sheet on all discrepancies were noted and sorted down with the vendors.
Evaluated options, set direction and monitored the transactional flow on daily basis in order to satisfy the specific enterprise objectives.
Ensured that the activities are done according to the organization’s standards, regulations and expectations.
The Inventory reconciliation was maintained to ensure proper cost is allocated to the product and is a correct flow to COGS.
benefit
The risks were properly addressed.
Proper skill set was aligned to the client so that there is optimum utilization of resources at both the ends.
Periodic data management and recording thus led to accuracy and savings in time and efforts majorly at the yearend book closures.
Uniformity in accounting was brought so as to streamline the bookkeeping process. This helped in proper reflection of financials irrespective the complexities.
The class wise bookkeeping helped the organization to filter down the books of accounts to geography wise. This helped in representation of apt picture of financials within the organization.
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