Virtual stock-taking as a new normal: Magnetic MRO brings “digital” to the audit process
Magnetic Maintenance
04.02.2021

Magnetic MRO, a Total Technical Care and asset management organization, together with teams of auditors from PwC as well as from company's co-owners, Guangzhou Hangxin Aviation Technology, has trialled unconventional stock-taking method and performed their first virtual stock-taking.
As due to the recent pandemic travel and hangars visits are temporarily suspended, it has an effect on various business units and processes: from maintenance to financial operations and stocking – for the last year, we all have been navigating the lockdowns and looking for creative solutions even for the tasks we previously considered to be mundane. Stock-taking, on a regular basis, would be done with the team of external auditors visiting the hangar and performing checks on the existing inventory. However, when visits are limited, inventory check done online can be the way around. In this case, both teams of auditors have been sampling certain inventory articles and the whole process, conducted and recorded for future references via Microsoft Teams, which in total took around 4 hours.