What is the primary purpose of conducting inventory audits at Circle K?

The primary purpose of conducting inventory audits at Circle K is to maintain accurate stock levels. Accurate stock levels are crucial for several reasons: they help in ensuring that the right amount of products is available for customers, minimize the risk of stockouts, and aid in preventing overstock situations that can lead to waste, particularly with perishable items. Regular inventory audits allow management to track inventory movement, identify discrepancies in stock levels, and make informed purchasing decisions. This process ultimately supports efficient operations, enhances customer satisfaction, and maximizes profitability, as having the correct inventory levels allows the business to respond effectively to customer demand.

Adjusting pricing on products, increasing employee workload, and enhancing marketing strategies, while relevant to broader business operations, are not the primary focus of conducting inventory audits. These tasks may be influenced by inventory data, but they do not directly relate to the fundamental goal of ensuring stock levels are accurately maintained.