Retailer audits are in-depth investigations carried out by an independent organisation to assess a variety of things, including business practices, product quality, compliance and safety measures.
Adherence to standards
A retailer audit is often undertaken when a business wants to protect their brand’s credibility and keep their customers’ trust. They allow them to make sure that any suppliers adhere to standards and can make changes accordingly.
In the UK groceries sector, the Groceries Code Adjudicator is responsible for regulating the relationships between the largest grocery retailers and their direct suppliers by monitoring and enforcing compliance with the Groceries Supply Code of Practice.
Types of audit
Compliance: Checks that producers are following industry standards and regulations and that all necessary licenses and permits are in place. Safety: This ensures that goods being sold are safe to be consumed, so will look at hygiene standards and working practices. Quality: Focus on product quality to ensure that standards are met. Internal: Carried out by the firm’s own audit team, these analyse store operations and manage inventory supplies. Often, a business will use the services of a data analysis company, such as https://shepper.com/ to quickly understand the figures. External: As these are carried by a third-party organisation, they are impartial and therefore provide an objective assessment.
Audit ready
Companies which thrive ensure they have regular audits, but are also prepared for them by maintaining good records in compliance with regulations. This means having up to date documentation, which is stored in an efficient document system and training teams on proper procedures.