Optimising your Stocktakes is a key factor in making sure you’re managing your profit margins!

You’re probably wondering if there’s a better way to control your stock taking, perhaps different methods & team sizes etc. Or maybe you’re wondering how much money you’re losing out on with incorrect stock takes, you will most likely be very surprised!

CNBC published an article back in 2015 that retailers are losing almost $2 trillion due to incorrect stocktakes that cause complex issues such as out-of-stock items, overstocks and returns, this number is only moving higher and higher so this highlights the need for an accurate and efficient stocktaking solution.

https://www.cnbc.com/2015/11/30/retailers-are-losing-nearly-2-trillion-over-this.html

That sure is a lot of money to be lost! a lot of that money should be staying in your business, helping you grow, not halting your development and you finding yourself out of pocket.

Remember, an accurate and proper stocktake will also relate to happy customers as they will not be disappointed when they go to order something and find out that you don’t have it in stock – this may then lead to them going elsewhere to find what they’re after, this is turn means you’re losing customers, trust, revenue and most dangerously losing customers to potential competitors.

We here at EasyCount have over a decades worth of experience relating to stocktaking so we can help you with managing your stocktakes with these steps;

Technology is the way forward

You may still be using pen, paper & Excel, you may have used them for many years and are comfortable in doing so, but don’t you just hate double-entry?

Technology is ever growing and more and more business are looking at ways to cater technology to their needs to push themselves up the business ladder and attract more attention. Technology is accurate and easily accessible, it’s constantly changing and looking for new ways to create new solutions to make those mundane tasks much faster.

Instead of using pen, paper & Excel, how about eliminate all those tools are just go for an electronic approach? all your data and counts will be stored in a virtual cloud meaning you can access your stock counts wherever you are, whenever, so long as you have an internet connection you will always be able to keep track of your counts. Most importantly its faster, easier, cheaper and a very secure solution to making sure your data is safe and not on 100’s of pieces of paper with Excel spreadsheets!

If you’re interested in an electronic way to count your stock, head on over to our website to get started! https://easycount.io/

Physical counting for accurate stocktaking

You may think using technology to count your stock is all you need to do, right? wrong!

Tracking your stock levels by doing a physical count is a very, very accurate way in making sure you’ve not miscalculated your products, at the same time you can always use your electronic device that you do with your counting, so why not put both together?

You can have multiple teams count physically for you in larger areas, again this is easily checked, audited and synced with your electronic devices such as EasyCount.

Final Notes

We hope these small, but helpful tips will encourage you to take accurate stocktakes to ensure your maximizing all profits of your business – maybe you wish to stick with pen, paper & Excel although the prospect of going fully digital is something we endorse and that’s why we’re looking to making stocktaking a lot less mundane for future counts.

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