What You Need to Know About the RMI Financial and Scan-Based Inventory Process

Let RMI help you get started with your inventory. RMI takes pride in helping their customers with their inventory from start to finish. From the first in-store visit and preparation advice, the physical inventory day, to making sure everything was a success afterwards, we will be with you through the entire process.

Getting Started With Your Retail Inventory

Q. What kinds of inventories does RMI do? A. RMI performs many different types of inventories, but for retailers, the most popular are the financial or the item-level scans. Q. What is a financial inventory? A. If you request a financial inventory (also known as a financial audit), RMI will count every unit at your store or location valued by the prices listed (typically retail value), and provide you with an accounting organized by department. The designated departments are usually determined in advance by the client. Using this financial inventory data, the client can then determine the wholesale or cost value of their inventory by backing out their margins. Q. What is an item-level inventory? A. An item-level inventory is used when the client simply needs to know how many units they have in stock. For an item-level inventory, RMI counts every unit by scanning the barcode of each. Our software is very flexible, and allows almost any import/export requirement a customer may have. Q. How do I schedule my inventory? A. Just give us a call at 877-78-COUNT or fill out the inventory quote form here. We like to have two weeks prior to the inventory to prepare and work your inventory into our schedule. But, if you are in our service area, we may be able to accommodate an even quicker timetable. Q. What information will you need from us in advance of the inventory? A. Just provide us with a list of your stores with their approximate square footage and locations, and let us know if you want a financial inventory or item-level inventory count. Then leave the rest to us. We take pride in helping our clients through the inventory process from start to finish. From the first in-store visit and preparation advice, to the activities of inventory day, to making sure the client is satisfied with the data provided, RMI will offer friendly guidance and responsiveness. Q. Can you do the inventory when our store is closed? A. Yes. We regularly do inventories after closing time. Q. We are a 24-hour convenience store. We are never closed. How disruptive will it be to do the inventory while customers/staff are in the store? A. You may hardly notice that we are there working. With the scanners we use, the process in the store is not unlike using retail pricing scanners.

RMI Inventory Technology Questions

Q. What technology do you use to inventory my stock? A. RMI uses state-of-the-art handheld data collection devices with the most up-to-date, sophisticated software available. Our software is flexible enough to accommodate virtually any customer request, and updated semi-annually to keep us well ahead of competitors. Q. We have been doing our inventory the old-fashioned way. Can you help us convert to using the new scanning technology? A. Yes. You will find that it will improve both the speed and accuracy of the data you get from your inventory efforts. Q. What import/export options do I have for receiving my inventory data? A. Most software programs allow simple .csv file imports. But, we have never had a request for an import file type that we couldn’t handle.

General Questions about RMI Inventory Services

Q. What are the advantages of a third party inventory, as opposed to having our staff do it? A. There are many. Our clients find that using outside inventory service experts who specialize in this task gives them extra confidence in the validity of the data. Because RMI has done thousands of inventories for many different kinds of companies, and because we have the latest in inventory technology available for our use, we can typically complete the job faster and with greater accuracy. Q. Which industries do you have experience serving? A. We provide inventory services to a variety of retailers, including grocery stores, pharmacies and liquor stores up to 100,000 sq. ft. We regularly provide inventory services for approximately 1000 convenience stores, and we consider convenience stores to be one of our specialties, since they often have unique requirements.

We have performed asset inventories for both city utilities and the federal government. We have performed asset inventories at a mine a mile underground and also in sterile space suits at an aerospace tech facility.

We also do inventories for manufacturers, corporate offices, and warehouses. We have often been called upon to do a company inventory in advance of a sale.

Our clients include any business that needs to have an accurate accounting of their stock inventory and other assets. And, that’s every business!

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What RMI Clients Say

“I am a Real Estate Broker in Denver, CO. I sell a lot of stores that need a final inventory at the time of closing. Rocky Mountain Inventory is very accurate and knowledgeable. They will do anything to work around my schedule with the buyers, the sellers, and the bank.” ~ Commercial Real Estate Broker