Simple Tips To Manage Your Stock More Effectively

Five Ways to Help You Manage Your Stock

Most business owners and bookkeepers are conscience to the possibility of cash going missing; few have the same attitude towards keeping stock safe. If you business carries stock that is easily sold for cash, then you will need some additional systems to manage your stock.

1. Split ordering roles from accepting deliveries.

The goal is that the person placing the order for inventory isn’t the same one accepting the delivery of inventory. So the employee in the electronic store doesn’t place an order for an iPad with the intent of taking it home, as the person accepting the delivery receives the iPad and records it into stock.

2. Match bills and delivery dockets.

Only approve bills for payment that have delivery dockets or stock receipts. This quickly highlights if inventory has been ordered but not entered into the inventory management software.

3. Protect stock from being stolen.

Take control of the physical access to your warehouse by employees and suppliers. Only https://diazepamhome.com provide keys to full-time employees, restrict hours of access to the warehouse, and change the alarm passwords when employees resign. Use back to base alarm monitoring so that warehouse is covered 24 hours a day.

Manage your stock

4. Identify what inventory items are more likely to be stolen.

For example, if you’re a surf wear retailer you will probably need to be more vigilant about protecting expensive sunglasses and watches than you would about protecting shirts and board shorts. Small expensive items are big targets for thieves.

5. Complete stocktakes regularly and report back to your staff.

Complete stocktakes in regular intervals as these give comprehensive details of the state of your stock. Most stocktakes have discrepancies. Report these discrepancies back to warehouse staff and have the staff involved in tracking down the reasons for the discrepancies.

If your stock is out of control or you want to improve the way your stock is handled, please contact us today and find out how we can help.

Passionate about small business, cloud technology & travelling the world.

Posted in: Bookkeeping