Benefits of the stocktakes
Once you start accurately managing your stocktakes, the fruits of your upcoming labor will become clearer.
Here are just some of the many benefits you can expect to find:
1. Keep your inventory up to date
The importance of accurate data cannot be understated.
Maintaining correct inventory data is useful for manufacturing your products. It will also help you make sure you have finished goods in stock waiting to be delivered to customers and that you’re not carrying negative inventory. Without it, your production planning may become obsolete, and even more sadly, your customers might not end up with their products being delivered on time.
Get it right, though. You can save your business on carrying costs and keep your inventory at optimal efficiency.
2. Uncover stock room issues
There are so many elements that can affect the products and materials which lay in your stockroom.
Poor conditions, damp atmosphere, badly handled boxes, and even theft are just a few. Of course, most of these problems will just be one-off cases that are simply the reality of business. But no doubt optimizing maintenance and security measures can assure you don’t lose any more stock than you have to.
We’re talking humidifiers, advanced locks, handling procedures, that kind of thing.
3. Improve your sales strategies
Nothing cleanses the soul like a good spring clean.
And that’s basically what a stocktake does, except on an even more regular basis (we’ll get to the frequency later). The main point here is that by constantly being in touch with your product stock, you can make a strong visual connection between your sales figures and what’s happening behind the scenes. It won’t take long to realize that one of your pet products is actually doing a lot worse than you thought when you see it on the same shelf week after week.
The opportunity for you to adjust your sales and marketing efforts to suit the supply you already have in stock will then arise.