CSI performs a physical inventory comparing product descriptions, styles, serial and model numbers, and more. We also identify brands and label issues, estimate salvage value, and clean and prepare inventory for the resale to maximize the recovery.
Value Assessment & Verification
CSI will verify the inventory and evaluate, determine, and document the actual value of the content by matching costs with supporting documentation . CSI offers several options for determining value if the insured’s documentation is not available. For unusual items or industries prone to market fluctuation, we will perform market reserch to determine a reliable basis for the stock’s value.
Assessment of Damages
A CSI representative can assist the adjuster in settling a claim by providing the potential recovery if the stock is to be taken as salvage; and/or by advising the adjuster to an equitable loss of value figure based on past experience with similar goods in similar circumstances if the stock is to be retained by the insured.
Work In Process
Adjusters frequently ask if it is worth the cost to inventory claims that involve work in progress. More often than not, the answer is yes. CSI’s personnel have been trained to assess the product in process to accurately determine at exactly what stage the product has been completed. We can then work with the manufactures to verify the exact costs for materials and labor to that point of process. In doing this, and not using an approximate value or stage of process, we have many times saved our clients thousands of dollars.
Most manufacturers are not equipped or do not want to market damaged or secondary goods. Their reputation and brand recognition would be in jeopardy if they were to directly sell a damaged product. CSI has years of experience working with buyers worldwide and will address the manufacturers concerns regarding their product and provide viable solutions for all parties.