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The True Value of Physical Audits

The True Value of Physical Audits

The True Value of Physical Audits

We spend a lot of time on designing audit programs which are executed on a regular basis by our teams. Have we stepped back from the data and asked if we’re getting the best value possible? Have physical audits and their regularity become predictable and are the ones being audited only performing tasks to get positive audit scores. What is the true correlation between audit scores and shrink, does anyone have some good data points that support the relationship of the two?

I think that we can leverage the current video infrastructure to remotely audit store processes. This will require the redesign of the audit process and using sample data as a means to measure compliance. The results will be more dynamic because we can perform audits more frequently and therefore adapt to the fast changing conditions in retail.

For example if we take a comprehensive store audit that may take several hours to complete and break it down into interchangeable modules. So an audit module for the second quarter may be different than in the fourth quarter to adjust for seasonal merchandising or changing weather conditions in the area of safety. The modules can be done quicker and across more stores to provide more dynamic data points for decision making. The one limitation is travel and time, requiring our teams to travel more will waste time and money on road trips. But if we leverage remote video and think about more strategic camera placement during the system designs then we can accomplish this more easily. I believe that we need to continue thinking about new means of capturing value from our existing technologies this will continue to prove our value to our organizations and gain additional respect from our management peers.

 

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