Do you really need to worry about stocktaking?
Our answer to this is a resounding YES.
Stocktaking is essential to any retail business if they are going to have any sort of successful financial future.
For those people in the licensed trade your stocktaker is your ‘best friend’ and will identify stock control issues in all areas of your business. Therefore, we believe that it is vital that both wet and dry stocks are carried out at regular intervals.
A stock check can help you in a number of different ways;
Uncover theft – Unfortunately theft is a fact of life in the world we live in. A stocktaker will highlight whether you have major issues on your hands and be a catalyst for a crackdown on problematic employees. A stocktake can also discourage some employees from stealing.
Discover additional stock shrinkage issues – A regular stocktake can highlight unprocessed or missing orders along with poor stock control practices.
Ensure the business is meeting targets – Identifying discrepancies in your numbers can identify why you are not meeting your planned financial goals. This can help you make necessary adjustments to both stock holdings and retail selling prices (RSP’s) before getting a nasty surprise at the end of your financial year.
Put product performance under the microscope – A stocktake will enable you to track which products do and don’t sell. You might want to review the products on sale and then make informed changes.
Improve your stock ordering process – From the previous comment you can ensure you get your ordering right and minimise stock going out of date or fashion.
Identify flaws in your pricing strategy – Nothing puts your finances into the spotlight like a thorough stocktake This is a great opportunity to analyse your sales and profitability. From this you can revise any pricing strategies that aren’t generating the right amount of profit
Our complete service provides advice and support with:
- Pricing
- Gross Profit
- Waste / prevention
- Stock storage and rotation
- Cleaning
- Shrinkage and Theft
- Stock Valuations and changeovers
Our stocktaking can be streamlined to suit the needs of your business and we will give you clear stocktaking reports that you can understand and give you an in-depth look into the stock management of your business. We can include cash checks, spirit checks (licensed) and are flexible with you on our reporting. Whether you are a single or multiple operators feel free to call us if this is an area of your business that you are unsure about or if you want advice on your current situation – we’re always happy to help!