How i-Stock Helps with Physical Verification of Industrial Assets

Managing industrial inventory efficiently requires accurate physical verification, real-time updates, and seamless data integration. i-Stock, CODASOL’s Inventory Physical Verification Tool, streamlines this process through its cloud-based, Android-compatible solution, reducing manual efforts and ensuring data accuracy.

With its integration into PROSOL, i-Stock enables real-time inventory audits, improving stock transparency and eliminating data inconsistencies. This article explores how i-Stock enhances physical verification, reduces audit time, and provides a secure, paper-free solution for warehouses.

Key Features of i-Stock

i-Stock is equipped with a suite of features tailored to enhance the efficiency and accuracy of inventory management:

Feature	Description
Material Imaging	Capture and store images of materials for easy identification.
Cycle Count	Perform periodic stock verification to maintain inventory accuracy.
Physical Inspection	Conduct detailed inspections of materials to assess condition and usability.
Material Identification	Identify materials based on their specifications and location.
Excess Material Detection	Identify surplus inventory to optimize stock levels.
Secured Access	Restrict access through role-based authorization.
Barcode & QR Code Compatible	Scan materials using barcodes or QR codes for quick verification.
Real-Time Updates	Get instant stock updates for better decision-making.
Paper-Free Environment	Digital records eliminate paperwork, ensuring sustainability.
Multi-Warehouse Support	Manage inventory across multiple locations from a single platform.

Benefits of i-Stock

Implementing i-Stock brings a multitude of advantages to industrial asset management:

• Cloud-Based Solution: Ensures data accessibility from any location, promoting flexibility and collaboration.
• Android Compatibility: Allows for widespread use across various Android devices.
• Intranet and Internet Compatibility: Supports both internal and external network configurations, ensuring adaptability.
• Web Access to Server: Provides remote access to inventory data, facilitating management oversight.
• Defined Authorizations for Hierarchy: Implements role-based access controls, maintaining data security.
• One-Touch Customized Reports: Generates tailored reports swiftly, aiding in analysis and reporting.
• User-Friendly Interface: Ensures ease of use, reducing training time and increasing adoption rates.
• Multiuser Access: Supports simultaneous access by multiple users, enhancing team collaboration.
• Multiple Warehouse Data Management: Allows centralized control of inventory across various locations.
• Increased Productivity: Streamlines processes, leading to more efficient operations.
• Secured Database: Protects sensitive inventory information through robust security measures.

Case Study 1: Transforming Supply Chain Inventory Management

Client Overview

A leading supply chain solutions provider managing over 6 million assets across 2,500+ locations and 4,000+ consumer touchpoints nationwide. They operate 22 warehouses and 9 manufacturing units and use proprietary digital tools for operational efficiency.

Challenges

• Difficulty in verifying materials at their designated bin locations.
• Identifying and eliminating duplicate items stored in different bins.
• Capturing physical data of unlisted materials.
• Old materials in damaged condition or missing identification details.
• Locating materials stored on upper racks, requiring forklifts.

Solution Provided

• i-Stock was deployed to capture real-time material images and verify stock data.
• Material data was standardized, cleansed, and enriched through PROSOL.
• Identified and removed duplicate records to improve inventory accuracy.
• Created a structured SAP-upload-ready dataset for seamless integration.

Outcome

• Reduced manual verification time by 40%.Eliminated 12% of duplicate records, optimizing stock levels.
• Improved data transparency and accuracy for warehouse operations.
• Enabled seamless multi-location inventory management.

🔗 Read full case study: Material Data Standardization for a Supply Chain Leader

Case Study 2: Enhancing Asset Management for a Utility Authority

Client Overview

A leading energy and water utility in the UAE managing 600,000+ assets across various locations. Their key focus is optimizing maintenance, improving asset tracking, and ensuring resource conservation.

Challenges

• Lack of a structured asset management system, leading to data inconsistencies.
• Difficulty in tracking asset condition and operational status.
• Need for standardized asset classification and accurate documentation.

Solution Provided

• Conducted a physical audit of all assets using i-Stock.
• Captured and linked images of nameplates and asset tags to improve data accuracy.
• Standardized asset descriptions using UNSPSC coding for seamless integration.
• Created a Functional Location (FLOC) hierarchy for better asset structuring.
• Developed a centralized asset register for real-time tracking and maintenance.

Outcome

• Established a unified asset management framework for improved planning.
• Reduced operational risks by ensuring accurate and up-to-date records.
• Improved resource allocation and maintenance scheduling.
• Enhanced data reliability with a single source of truth.

🔗 Read full case study: Asset Management for a Leading Utility Authority

Comparative Analysis: i-Stock vs. Traditional Methods

Aspect	Traditional Methods	i-Stock
Data Entry	Manual, prone to errors	Automated via barcode/QR code scanning
Data Accessibility	Limited to physical records	Cloud-based, accessible from anywhere
Reporting	Time-consuming and inflexible	Instantaneous, customizable reports
Environmental Impact	High paper usage	Paper-free, environmentally friendly
Security	Susceptible to unauthorized access	Secured access with defined authorizations
Real-Time Updates	Delayed due to manual consolidation	Immediate updates, enhancing decision-making
Resource Allocation	Requires significant manpower	Reduces manpower through automation

How i-Stock & PROSOL Work Together

1. i-Stock Mobile App – Captures real-time inventory images and collects data at warehouse locations.
2. PROSOL Master Data Management Tool – Processes and standardizes data for ERP integration.
3. Final Output Report – Provides a structured inventory dataset ready for SAP upload.

This end-to-end digital approach ensures accuracy, eliminates redundancies, and enhances inventory visibility across multiple warehouses.

Why Choose i-Stock for Industrial Inventory Audits?

• Eliminate Paper-Based Processes – Digital transformation for faster and error-free verification.
• Seamless ERP Integration – Ensures accurate and standardized inventory data.
• Reduce Audit Time by 40% – Optimized workflows for quick and efficient verification.
• Real-Time Stock Updates – Ensures live inventory tracking for decision-making.
• Data Security & Compliance – Protects information with role-based access controls.

Get Started with i-Stock Today!

Frequently Asked Questions (FAQs)

1. What is i-Stock?
   i-Stock is CODASOL’s cloud-based inventory verification tool that enables real-time stock audits, image capturing, and automated data synchronization for industrial warehouses.
2. How does i-Stock integrate with existing systems?
   i-Stock seamlessly integrates with PROSOL and leading ERP systems like SAP, Oracle, and Maximo, ensuring smooth data synchronization and eliminating manual errors.
3. Can i-Stock handle multiple warehouses?
   Yes, i-Stock supports multi-warehouse data management, enabling businesses to centrally monitor inventory across multiple locations.
4. How secure is the data stored in i-Stock?
   i-Stock employs role-based access controls, encrypted storage, and cloud backups to ensure data security and compliance.
5. What industries benefit the most from i-Stock?
   i-Stock is ideal for industries like Oil & Gas, Petrochemicals, Utilities, Manufacturing, and Warehousing, where accurate physical verification and inventory audits are critical.
6. How does i-Stock improve efficiency?
   i-Stock reduces manual verification efforts by 40%, eliminates duplicate records, and ensures real-time inventory tracking, leading to better planning and cost savings.

🔗 Learn more about i-Stock: i-Stock Inventory Verification Tool