A stocktake is without doubt one of the most vital disciplines in retail. It reveals whether or not your stock data match what is definitely in your cabinets, within the again room, and in storage. It may be an enormous job, however it stays the most effective methods to regulate inventory, take a look at your stock system, and uncover issues which might be costing you cash. I’ve spent lots of time round stocktakes over time, and I’ve seen firsthand how the extra organised the enterprise is earlier than the depend, the sooner and extra correct the stocktake might be.
Why stocktaking issues
Good stock administration issues as a result of dangerous inventory figures damage companies. It is usually, for many Australian companies, a strict ATO requirement.
A great stocktake helps you:
- Discover extra inventory and useless inventory.
- Enhance the accuracy of your stock data.
- Look at your inventory.
- Assist your inventory values for accounting and tax functions.
Information: Be sure to hold ample data. In case your data are weak, an ATO auditor can query your figures and make their very own estimates.
Earlier than you begin
A profitable stocktake begins earlier than stocktake day.
Search for each place the place inventory is held in your enterprise. Don’t simply take into consideration cabinets. Embrace drawers, counters, workplace cabinets, again rooms, warehouses, promotional shows, window shows, discount bins, and any odd storage spots. We discover that these forgotten areas usually trigger probably the most stocktake errors.
Now, begin to tidy the inventory. The tidier it’s, the better it is going to be to depend:
- Transfer inventory to the right space.
- Straighten blended and messy sections.
- Separate similar-looking objects with totally different barcodes.
- Pull out broken, unsaleable, or returned inventory.
- Put laybys, consignment inventory, buyer orders, and items ready for dispatch into clearly marked holding areas.
Now divide the enterprise into counting sections. Every part must be clearly outlined and, as a rule, take 1-2 hours. This makes it simpler to maintain organised and centered.
Warning: When you have a warehouse or storeroom, make sure that it’s included within the plan as nicely. It may be counted individually if wanted, however it should not be missed.
Decide a quiet time if attainable.
Choose your folks for the stocktake, make sure that they know their position and what they should do. We’ve ready a video to assist them right here:
First, organise your folks. Counting often works finest in groups; two folks counting and one particular person recording is usually an efficient mixture.
Earlier than anybody begins, maintain a brief workers briefing so everybody understands:
- How the depend might be achieved.
- The counting order to observe.
- Methods to deal with drawback inventory.
- Be clear about how items are dealt with. Everybody should know they’re counting singles. If a carton is open, inform them to test it correctly and to not assume it’s full.
- Who is obtainable through the stocktake if there are questions? If every staff handles issues in another way, your stocktake will rapidly turn out to be inconsistent.
- Arrange a chosen drawback space. Moderately than holding the depend up, put drawback inventory in that space and transfer on.
Tip: A stocktake can be an excellent time to test pricing, barcodes, and labels, and to offer the store a clean-up. Be sure your groups know this, too.
Examine your gear
Earlier than the day, take a look at your expertise. There’s nothing worse than getting everybody prepared solely to search out out one thing doesn’t work:
- Check your stocktaking software program.
- Examine scanners, laptops, and PDTs.
- Cost batteries.
- Have chargers prepared.
- Be sure every part connects correctly to your POS software program.
If you need to use laptops or PDTs, do it. They save time as a result of workers can transfer with them across the store.
Even have the fundamentals prepared:
- Pens.
- Clipboards.
- Labels.
- Tape.
- Markers.
- Spare batteries.
Begin counting
When the depend begins, use one technique and stick with it.
I like to recommend a easy system of counting from left to proper and backside to prime. In order for you one thing totally different, make sure that everybody follows the identical rule.
Then work by means of the stocktake so as:
- Depend one part fully earlier than shifting on.
- Mark completed sections clearly.
- Use place markers to obviously mark counted areas.
- Maintain groups of their allotted areas.
It additionally helps to begin with the toughest or messiest sections first, whereas everyone seems to be recent.
Warning: As soon as counting begins, hold inventory motion to a minimal. Though your stocktake software program can account for motion, it confuses the counters. I like to recommend quarantining new inventory to forestall it from being blended with counted inventory.
Depend each location the place the identical merchandise is stored. It’s straightforward to depend the shelf and overlook the backup inventory in a drawer, cabinet, or storeroom.
Dealing with drawback inventory as you go
Maintain the method shifting.
If a staff finds a product with a lacking barcode, a broken label, or one other situation, don’t let it cease the depend. Put it into an issue holding space and hold going.
As you depend:
- Spot-check accomplished sections.
- Recount something that appears incorrect.
- Maintain pointless workers away from the counted areas.
- Maintain prospects out of accomplished sections the place attainable.
- Clearly observe the place estimates had been used.
Some inventory all the time wants additional care:
- Greeting playing cards in packed pockets.
- Books displayed in a number of locations.
- Magazines on cabinets, in pockets, and in return areas.
- Present traces with show inventory out entrance and backup inventory in storage.
- Stationery objects that look the identical however differ in color, measurement, or barcode.
Earlier than you end
Do one ultimate sweep earlier than you log off.
Stroll the entire enterprise and test each space in your stocktake map. Be sure every part has been counted and marked off. This ultimate test usually picks up forgotten shows, cabinets, drawers, and odd corners.
A stocktake can take greater than in the future, and that’s high quality. What issues is that it’s achieved fastidiously, constantly, and fully.
Conclusion
A great stocktake is all about preparation, clear guidelines, and a disciplined counting course of. Try this nicely, and you’ll find yourself with higher inventory figures, higher shopping for info, and fewer surprises.
If I missed one thing, please let me know.
Completely satisfied stocktaking!
Written by:
Bernard Zimmermann is the founding director of POS Options, a number one point-of-sale system firm with 45 years of business expertise, now retired and searching for new alternatives. He consults with varied organisations, from small companies to giant retailers and authorities establishments. Bernard is obsessed with serving to corporations optimise their operations by means of revolutionary POS expertise and enabling seamless buyer experiences by means of efficient software program options.
