This is one of the most neglected tasks in the convenience retailing sector. The main reason it is ignored is that it does require a greater level of management discipline than most convenience stores are able to maintain.
The main benefits of managing stock accurately are:
• You can identify stock shrinkage more easily;
• The suggested re-order report on the system works, because the system knows what is in stock. This should save huge amounts of time when ordering.
Our suggestions when starting to manage stock are:
1. Don’t start by doing a stock-take of the whole shop. Do a stock-take of your cigarette gantry and cigarette stocks. Then make sure you get into the habit of scanning goods in whenever any new tobacco stock comes into the building.
2. Once you are comfortable that EVERYBODY in the business is operating according to this discipline, then do a rolling stock-take around the shop. For example, on Monday evening do all your spirits, on Tuesday, do all wines, on Wednesday etc. until all your stock figures are accurate.
3. REMEMBER, that once you have done the stock-take, it is ESSENTIAL to scan goods in for the stock that you have counted. Otherwise the whole exercise is a waste of time.
4. ALSO, you will need to get into the discipline of doing regular stock-takes. No matter how careful you are, stock figures do get out of alignment with the actual stock on the shelf. The best-run supermarkets in the country do have regular stock-takes to ensure their figures remain reasonably accurate.
5. ONE RULE that everyone needs to understand is: Goods In always ADDS to an existing stock figure, whilst Stock Take always OVER-RIDES an existing stock figure. So, for example, if you have a stock figure in the system of -15, and you add 10 items via Goods In, then the stock figure becomes -5. However, if you enter 10 items as a Stock Take figure, then the stock figure becomes 10.
|1. ShopMate – Goods In, Out of Date, Not Sold, Returned, Damaged and Transfer.||2. ShopMate – Stock taking|
There are five other options in Manage Stock which operate in the same way as Goods In which are: Out of Date, Not Sold, Returned, Damaged and Transfer.
First, make a ‘Stock Take Group’. You can then assign several different sessions of stock taking to the group and then commit the group. This enables you to have more than one person doing a stock take at any time.
When you commit the group, you will update your system with the new information, which can be viewed in relevant reports.
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