Get to know the Importance of Digitalizing the Stock Takes.
15/Apr/2024
Get To Know the Importance of Digitalizing the Stock Takes.
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What is stock-taking?
Stock-taking is when you check and record all the inventory your business has on hand. It’s a vital part of inventory control, but it will also affect your sales. Stocktaking is different for every company. A stocktake is about more than just managing stocks. You should include any inventory your business needs. For example, if you are a manufacturer, you’ll need to keep track of the products you use to make your finished goods.
Why are stock takes important?
It's not a good idea to rely only on your memory to know how much stuff you have. By comparing the numbers from a check and what you thought you had, you can find mistakes and fix them before they cause problems. If you aren’t tracking your goods as well as you thought, it may mean that you have poor inventory control. It's better to fix problems sooner than later before they lead to major problems such as stockouts, dead stock, and overstocking.
Discover stock issues.
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When you encounter a discrepancy, the first step is to figure out why it's happening. It could be a mistake made by someone putting something in the wrong place or entering data incorrectly. It might be a serious problem, like theft or supplier problems. Once you know what caused the problem, you can take steps to prevent it from happening again. This may require changes to your methods, new software, or extra security. Then, simply add the new figure to your system to fix the problem.
Improving your stock-taking by using your mobile phone
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Relying on manual counting can lead to errors and lengthy processes, sometimes requiring a full day to close operations for stock-taking, particularly as your company expands. However, leveraging mobile phones with stock-taking software equipped with barcode scanning technology makes this process much simpler and fast. Barcode scanners can quickly capture lots of information in one go. Stock-taking software also shows stock levels in real time, which eliminates the need for frequent manual checks and ensures accuracy. By using tools like mobile phone or barcode scanners, the entire stock-taking process becomes much simpler and more efficient.
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Last, the frequency of stock-taking varies a lot depending on the unique circumstances of each business. It's important to make sure your product tracking system is accurate, has accurate inventory numbers, and can handle any disruptions. By looking at these factors, you can figure out the best time to take stock. A well-planned approach to stock-taking not only makes inventory management easier, but it also keeps your operations running smoothly.
by:
stephanie
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