In the fast-moving world of business, comprehensive and objective Operational Risk Control Audits continues to be invaluable.
Through our Operational Risk Control audit we deliver insights and promote transparency to build confidence in how an organisation operates.
The New World Norm internal risk control audit can uncover controls that are not effectively designed and provide improvement recommendations.
Companies with strong internal controls tend to be more adept at identifying and mitigating the risks that can undermine achieving the business goals.
Our clients can benefit from a strong control environment, providing them with a foundation to support growth, Improvements in business efficiency and effectiveness of operations and asset protection.
Operational Excellence is a key element of a successful risk management strategy, enabling businesses to operate more effectively, manage risks more efficiently, and achieve their goals with greater confidence.
Inventory management is a pressing concern for any business. Even though you practice the best inventory monitoring strategy, the errors keep continuing to impact your business.
It has been reported that 25% 0f the inventory differences occurs due to administrative errors, resulting in excessive workload across the business.
Some businesses report their accuracy rate at 86% which has a direct to poor replenishment cycle, under performing sales and the customer experience and retention.
New World Norm evaluate all of these impacts as part of designing your strategy, which will add benefit across the entire business.
It is vitally important that the strategy has a robust reporting system against the key measures to ensure you deliver against the commercial goals.
New World Norm designs reporting for your business to maintain progress and measure success and improvement opportunities.
As part of designing the reporting we build a dashboard that enable you to measure internal and external benchmarking.
Measuring stock accuracy enables businesses to identify discrepancies between their stock records and actual inventory levels. This will help identify issues such as theft, damage, or miscounting, and take corrective action to address them.
Accurate stock records are critical for effective supply chain management. When businesses know exactly what inventory they have on hand, they can make informed decisions about ordering, production, and shipping, reducing lead times and improving overall efficiency.