Stock Control

Maintaining effective stock control is important in all kinds and sizes of retail operations, but it can be critical in a small one. Identifying and minimizing stock wastage and theft allows you to maximize your profits.  Stock control will also assist you in stocking products at the right level. i.e. not overstocking but still meeting demand.

Stocktaking

By using stock control you can pull up a stock valuation for your business at any time.  But this valuation is theoretical – it assumes that the system knows everything that has happened to your stock.  Stocktaking provides a factual valuation of your store and the results can be used to update your stock system.  Stocktaking on a regular basis also allows you to identify variances in your stock – identifying unexplained difference in stock levels for a product.

Stock Software

A good stock management solution should include stock software for recording all stock movements throughout your store.  The stock software should be available on both desktop computers as well as handheld computers allowing you the mobility to input the information on the shop floor.
 

Stock Management

The software is only part of the solution.  Good stock management will require the cooperation of your staff in ensuring that ALL stock movements are entered  onto the system.  There is effort involved in this, but stock management does yield benefits.