In order to stock take in your retail business successfully, keep these 7 steps in mind.
Bit first, make sure you are using smart POS software that lets you stock take while the shop is open, software that lets you stock take using several computers or terminals.
STEP 1: Decide who will be stock taking and how often it needs to be done. Ask yourself the following: “How big is my stock?” and “How long should stock last?”. Another thing to bear in mind is that stock takes must be done systematically and not on an ad hoc basis. Typically, a shop with 3,000 items can be completed by two people in less than a day.
STEP 2: You stock take should start with a stock count of your stockroom, before you move too the shops floor. Be consistent, methodical, in your approach, covering each space fully before you move to the next space.
STEP 3: In the old manual days, you would write a stock take list as stock takes can be very long processes and this list will act like an agenda for the stock taker. Also, it is useful to use reminders on stock take lists such as “if stock isn’t available check with suppliers”. But those days are over. Today, using smart POS software you can do a stock take faster and more accurately using the POS software.
STEP 4: Stock counts must be done individually to get accurate stock counts. Scan an item, enter a quantity, move on. You can scan each barcode if you wish but that tends to take more time. Move down each aisle in a consistent way: Scan, count, scan, count. Your POS software makes it easy.
STEP 5: All stock of the same type of product should be counted at once to get an accurate total of all stock for that item. This will make stock takes very quick and efficient. See point 4 for doing this in your POS software, scan, count, etc…
STEP 6: Rely on your POS software to store the stock take count data.
STEP 7: Once you have the stock take done, you are ready to use this valuable data to cut for the business dead stock, stock that has not sold in months or years, stock that his not paying its way. This is the value of a stock take for a retail shop.
The Tower Systems smart POS software helps small business retailers complete accurate and time efficient stock takes.