To address the issue in my view following points can help, A) Centralization of Stores (milk van concept): Centralizing inventory management can reduce redundancy, improve tracking. A centralized system ensures better control over inventory levels. B) Collaborative Utilization of Inventory (if feasible): Form a forum or network with peers across different plants, conapnies to share inventory data. Specially starting focus on non-moving inventory: Identify items that are stagnant in your stock and might be of immediate use to another plant, company. Sharing resources can minimize wastage, reduce overstocking, and improve utilization of existing inventory.

Accuracy strongly depends on your system of inventory management. If you can't have clear information on how much you have, you won't make it on the audits. The ultimate solution for this is building a system that works for you.

In my carbon accounting experience, data analytics and MRV systems were essential for accuracy and avoiding duplication. Initially, we struggled with inconsistent records and emissions reporting. Implementing SAP ERP centralized data and enabled real-time tracking, keeping teams aligned. FIFO for perishables and LIFO for non-perishables reduced waste and improved turnover, cutting emissions. MRV systems caught discrepancies early, ensuring consistent reporting. Analytics revealed patterns like seasonal resource spikes, optimizing processes and setting clear benchmarks. Combining these tools streamlined operations, improved compliance, and advanced sustainability goals.

To overcome these challenges, implementing a combination of strategies and tools can transform the process. 1. Leverage Technology for Real-Time Tracking Adopt Inventory Management Software Use IoT Sensors and RFID Tags 2. Standardize Processes and Documentation Establish Clear Audit Protocols Create Consistent Checklists 3. Train Your Team Conduct Regular Training Sessions Promote Accountability 4. Utilize Data Analytics Identify Trends and Anomalies Forecast Demand 5. Implement Continuous Auditing Practices, Adopt Cycle Counting and Monitor in Real Time 6. Foster Cross-Functional Collaboration, Engage All Stakeholders and Share Insights. 7. Evaluate and Optimize Regularly, Conduct Post-Audit Reviews and Adopt Lean Practices.

Establish clear, standardized procedures for inventory handling and audits. Ensure that all staff and colleagues are trained and follow these procedures consistently. Through - Conducting timely cycle counts instead of waiting for an annual audit. This helps to identify and should be corrected early. -Invest in robust inventory management software that can provides real-time data, tracking, and reporting. This makes tracking and reporting generations easier. -Perform a root cause analysis to identify the underlying issues and implement corrective actions to prevent recurrence of any discrepancies found. - Minimize waste and optimize inventory levels, by adopting lean practices.