You have potentially thousands of stock items in your shop. Keeping track of all these stock items is in practice unworkable as it is too much work. In an effort to reduce the workload many people try pick the top selling items and essentially ignore the rest.
The point is that it is unnecessary, the best way to control your stock is to use your point of sale system. By all means watch the big sellers but for the majority of stock let your point of sale software do it.
Let me show you an example, here is an example of a stock item.
If you look at the stock item above, they have two (2) on hand. The expected sale for this week (focus quantity) is four (4) sales a week. So I can say it is likely that they have only half a week of supply before they run out. So if they order weekly they need to put in an order ASAP. Now multiple these calculations by thousands of stock items in your stop over which needs to order to almost all your suppliers weekly,and you can see the amount of work involved.
Our point-of-sale system not only shows you this information, but it can act on it to help you reduce lost sales.
All you need to do is set up standard operating procedures for ordering. Make sure that these standard operating procedures are clearly explained to your employees because even the best stock control system won’t be effective if your employees fail to use it correctly.
If you need any help, or you are looking to get an automated stock control system going in your shop, please contact us.
