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Topic: stock count

5 Ways to Improve Inventory Accuracy When You’re Overwhelmed With Stock

Optimum inventory management relies on accurate data so that inventory orders can be balanced with sales. By data, we mean the numbers and categories of stored and sold product, expiration dates and storage locations so that there is always just enough product ordered in to satisfy consumer demand and sales. Improving accuracy around inventory data ... Read More

  April 8, 2019     

12 Reasons Why You Have Stocktake Discrepancies

Stocktake discrepancies happen when the actual quantity of inventory stock on hand is different from the quantity recorded in an inventory system for any particular item. Unfortunately, this is a real issue every business tasked with maintaining and controlling inventory is faced with. If not avoided or detected, discrepancies will bring about vari ... Read More

  October 30, 2018     

The Ins And Outs Of Inventory Shrinkage

Inventory management is an extremely important part of running a successful business, but it can be a complicated task. Theft, damage, miscounting, incorrect units of measure, evaporation and other issues can cause what is known as inventory shrinkage. In this article, we explain what inventory shrinkage is and how you can avoid it. What is [&helli ... Read More

  September 28, 2018     

Boosting Your Seasonal Business Off-Season

Owners of seasonal businesses will know all too well the struggles that come with selling products and services which are only in high demand for short periods of times. You may own a jet ski rental company, or an e-commerce site that sells hunting accessories. Whatever your seasonal business, the off-season can be a real […] ... Read More

  June 20, 2018     

How to Count Your Inventory for a Stock Take

Maintaining inventory is a big job. It is a business’ biggest asset and it pays off to count it properly. Counting your inventory can be done in different ways. It is important to understand which type of counting system is right for your business when doing a stock take. Inventory can be counted on an […] ... Read More

  March 19, 2018     

5 Inventory Stock Metrics for Business Success

When it comes to making the best decisions that can directly impact your business’ bottom line, it is imperative to derive actionable insights from your business’ inventory stock data. It is crucial for any business to understand key stock inventory metrics that informs this data, thus enabling your business to make better informed decisions. I ... Read More

  March 19, 2018     

Taking Stock to Maximise Your Bar or Coffee Shop’s Profit

Stock taking is essential in any business to forecast what stock you will need to purchase given how much you sell. Getting it right is essential for your business to maximise profit and minimise waste. Taking stock regularly allows you to to evaluate how much product is used on a regular basis, meaning you can […] ... Read More

  January 17, 2018     

Steer Clear of these Stock Taking Mistakes

Managing your inventory properly is critical to any retail business. Stock taking is one of the most essential tasks a company can do to ensure effective inventory management. Stock taking normally happens once or twice a year and gives a company a clear understanding of their inventory levels. In addition, it can unveil the overall […] ... Read More

  January 16, 2018     

Five Hacks to Make the Most of Stock Take Time

Many businesses dread stock take time. At best, the stock take is an expensive, time consuming exercise in confirming what a business already expects: that the stock in a warehouse matches the stock the business has on its books. At worst, it reveals systematic inventory issues, unexplainable variances or much more loss and damage than […] ... Read More

  December 16, 2017     

Stock Take Hacks For Fuss-Free Stocktaking

Stocktaking, it’s one of those necessary evils and possibly one of the least popular activities in inventory control. The necessity of undertaking a regular stock take is to help facilitate business improvement and to increase profitability for your organisation. Stocktaking allows a company to determine product performance by highlighting the in ... Read More

  November 28, 2017     

Static or Real Time Inventory Reporting: Which Will Keep Your Business Moving?

Inventory reporting can be simple, but it can also involve a lot of guesswork. With a perpetual, real time inventory management system, a business typically has access to always accurate inventory information that changes as inventory moves through the production process. On the other hand, a business that carries out a periodic inventory system wi ... Read More

  July 8, 2017     

What is negative inventory?

Negative inventory is a minor issue; the gap between your actual on-hand inventory and the stock recorded in your inventory system. ... Read More

  April 27, 2017     

The low down on the periodic inventory system

A periodic inventory system is a method of keeping track of inventory where inventory counts are only updated periodically. ... Read More

  April 21, 2017     

The Benefits of Correct Inventory Levels

Maintaining accurate inventory levels is a crucial part of a business. Here are five benefits of having correct inventory levels. ... Read More

  March 9, 2017     

Taking stock of your inventory: 10 tips

Stocktaking is an important process that allows businesses to reconcile physical stock on hand against their records. Whether your business is a large operation running a barcode system or a small family enterprise that keeps paper records, it is important to complete a stocktake at least annually before the end of the financial year (although som ... Read More

  October 17, 2016