I hope you are well. Just a quick update on what our logistics team have been busy with lately. We have just completed our first wine audit of 2020 for all wines in both our bonded warehouses – EHD in the UK and PIB in France.
Our company policy is to carry out at the minimum TWO audits per year, one is completed within the 1st quarter and the second one in the third quarter. This is in addition to physical audits.
A wine audit is very important because it ensures complete accuracy in every single case and bottle of wine that is stored with Sure Holdings and confirms 100% that every single case of wine is allocated to the correct client account. Each warehouse is bound by the jurisdiction of the customs and excise in UK or France therefore the accuracy of each bottle of wine is legally binding because duty and taxes are unpaid and customs need to be aware of this information at all times.
A completed wine audit involves these detailed procedures:
- Our four man logistics team including 1 member of our management team will conduct the audit. The audit takes at least 10 days to complete. We will assign each team specifically to each of the warehouses in UK and France. Each audit team will review and cross reference more than a thousand lines of wines for each warehouse. Each line item of wines is inspected and cross checked against it’s unique rotation number to make sure the allocations and the case formats are accurate and that all wines are accounted for.
- A report is then tabulated at the end of the wine audit period and any issues or discrepancies will be highlighted to the warehouse. Rectification measures are taken, if necessary. We are pleased to announce that the first quarter audit has been completed and all wines are accounted for and are allocated correctly to our client accounts.