A Third Party Inventory Audit is a comprehensive evaluation of an organization’s inventory system and processes. It ensures that products and materials are accurately accounted for, and helps identify areas where improvements can be made. The audit typically involves an independent third party company analyzing all aspects of the organization’s inventory management program, including inventory accuracy and levels, storage solutions, reordering policies, and record-keeping procedures. The results of the audit allows for informed decisions about how to best manage inventory in a cost-efficient and accurate manner.