Top 3 Stock Counting Tips for Retailers - PDF document

Top 3 Stock Counting Tips for Retailers Whether you’re handling inventory management using Excel or are using AdvStock’s retail solution, stocktaking is a critical part of running a retail store. Advanced and detailed planning is necessary so painful stocktaking won’t come into existence. Below are the top three stock counting tips we came up with for the hardworking retailers: 1. Use inventory scanners or other types of stock counting technologies Gone are the days when physical inventory coun ts are done using a piece of pen and a pad of paper. Traditionally, others have also been making use of a physical inventory count sheet to tally up the products and reconcile the data in their system. While this method can get the job done, it’s hi ghly inefficient and it requires double entry. Since physically counting of inventory is already a “manual” task, the last thing you need is to manually tally and record data. Te remove the hassle of manually doing stocktaking, AdvStock has invented a stoc ktaking software that will bring harmony to your barcode inventory system The use of AdvStock’s stocktaking software provides stocktake summaries and several equally - important reports such as detail level reports, department/sub department reporting, variance reporting and location - based reporting. Our solutions are user - frie ndly and flexible so you can opt with only using the elements that best suit your needs, including our Barcode Inventory System. You can opt to set up your barcode inventory software. You may only make use of your phone or table to store the barcode scanner app for inventory . The barcode scanner app for inventory can digitise the counting process at the comfort of your own mobile gadgets. Just scan your product barcodes using your device’s camera, and the app will automatically save and record all the necessary product information. Updating of stocks is also made easy with the cloud - based technology present in our barcode inventory software. As a tip, always see to it that your hardware and software are working perfectly before the count. Always double check on your barcode scanners and review your software’s functionalities to minimise errors and properly manage your stocks. YOu may also do some test counts to ensure that everything is r eady before the official count. 2. Always Communicate Whenever you’re doing a full inventory count, you need to communicate your plans to the right people ahead of time. For business owners, you must be responsible with planning ahead of time so products and stock movements will be minimised. Whatever the case, regular messages and reminders will pave the way for a smooth stock taking experience. 3. Map your store Illustrate where your products are located. Doing so will give an at - a - glance view of your store and make it easier for you to assign people to each section so you can determine the best way to go about the counting process (i.e. where to start counting, how to move around the store). Your map can also serve as a handy checklist when you’re act ually counting products. You can mark off the sections that have already been counted, making it easier to see how much you’ve completed. Label boxes and shelves if necessary. By following these tips, you will be able to keep your inventory on track.