With the end of financial year approaching, most of the
companies are preparing for their annual stocktake. A stocktake is a physical
count of business inventory on hand and provides a business with an accurate
reflection of stock held. Conducting regular stocktakes not only allow business
owners to be proactive on stock but also increase their business bottom line.
Regular stocktaking is a vital element of a loss
minimisation strategy in a business. The process helps to compare actual stock
levels with the stock levels based on ordering records. There are many
electronic and manual methods to perform a stocktake. Whichever the system you
choose to use needs to be comprehensive and collect accurate data if it’s to be
of any value.
Often the effectiveness of the stocktaking process can
influence the accuracy of information it produces. This may lead to a situation
where it appears that there are stock losses when actually the missing stock
has simply been overlooked. This type of problem would indicate either the need
for staff training or the current stock tracking method needs to be reviewed.
Count my carton stocktake Solution
Count my cartonsis
a simple yet effective stock counting process. Via Excel Spreadsheets users can
interface with any existing system to perform real time stocktakes with or
without barcode scanning via any device with internet connection. A full
stocktake of inventory in your system with countmycartons.com can be performed in 4 simple steps.
1.Map your system to countmycartons.com.
The data mapping needs to be set up so that
the data heading from the import file matches the correct categories in count my
cartons. Data mapping must be done for both the import file heading and the
export file heading.
2.Import your stock file to countmycartons.com.
Import data is used to build a stocktake.
There are two types of stocktakes that can be set up
Verifiable Count: this requires data to be imported from an
external .xls or .xlsx file. Counts will
then be performed against each record in the file.
: No data is imported and stock
is simply counted as it’s found.
3.Count your stock.
Count progress report is used to keep track
of the current status of a given stocktake. It will let you know what is
counted, what is not counted, variance quantities, pallet information and
option to recount an item.
4.Export results back to your system.
Data export is used to produce a Microsoft
excel file of any given stocktake. Simply enter the stocktake ID and click the
export button. An excel file will be generated.
Mapping, importing and exporting can be performed within
seconds, therefore maximising time spent on the most important aspect of any
stocktake - accurate counting.
Tips for a successful stocktake
you commence have a full understanding of the resources and the time
needed. This will reduce the level of
interruption to the business and make sure things can run smoothly.
can be beneficial to get the staff involved in a stocktaking procedure as it
will help them gain knowledge about the importance of doing regular stocktake.
Limit noise and
-Distraction from co-workers, mobile phones, Ipods or having
the radio playing in the background can all lead to staff making critical
Know what needs to be
-Before the stocktake is commenced, you should know all the stock
that’s owned by the business and where stock is held. Also it’s vital to
exclude stock that has been invoiced to customers, but not yet dispatched and
stock that’s received but not yet recorded in the system. Mark any items counted to avoid duplications. Staff
should also be mindful of the slow moving, damaged or superseded stock so they
can be valued at a discounted price or removed from the stock count completely.
Value your stock-Once
you have counted the stock it is also important to review price list to ensure
you have the most up to date prices for the stocktake and that all the recent
price change has been taken into account.
Get value for your
-Now that the stock has been counted and priced it is important to get
the best value from the information gathered. By going through the stock levels
and stock requirements you can easily identify and monitor slow moving stock,
profitable stock and possible theft which may be occurring within your
business. Carrying too much stock or not having sufficient stock to meet your
customer demands can have a negative impact on the profitability of your
Having a precise understanding of the number of stock items
the business owns, allows you to reconcile physical stock to the inventory
records, highlight variances and identity issues with stock management and
control. There’s a lot of advantages in conducting a regular stocktake for your
business. Such as, cash flow can be improved by identifying slow moving stock
and reducing the levels of such stock. Regular stocktake also enable you to
monitor profit margins across a range of products, it helps business owners to
see what stock moves quickly and reorder them in a timely manner to reduce back
orders, finally having a better understanding of your stock will enable you to
minimise waste and will help you to identify if there’s any problem with theft.
It plays a key role in improving customer service and efficiency in your
business with employees who always know where exactly what stock is available. A
successful stocktake doesn’t have to interrupt your business and will give you
the precise facts you need to make better operational decisions.