Initial Stock Take
The first part of this article describes our recommended store processes for completing an accurate full store stock take. Planning and preparation is the key to making the process run as smoothly as possible.
Planning
- Make one member of staff the lead for the stock take procedure;
- Define roles for each member of staff involved in the stock take;
- Create a basic map of the store. Create easily countable 'zones', giving each a code. Make several copies;
- Make sure stock take app is downloaded to any phones to be used, also check that any other kit needed is available such as laptops, pens, and paper;
- Ensure staff schedules are set covering the stocktake period;
- Train staff on all stock take processes – stock take app use, counting procedure, and label sweeping;
- Read this article for detailed instructions on using the stock take app:
- And read this article for instructions on how to import the stock take file from the app to stock take:
- Make sure customers are informed of the day the store will be closed for stock taking;
- Ensure you test the stock take procedure for a small group of products - use all of the processes you plan to use in the live stock take. This will help to familiarise you with the procedures involved and highlight any potential issues.
- Make sure all of the planning above is done well ahead of the live stock take, giving you plenty of time to adjust the process and deal with any issues that arise.
Preparation
- Label sweep the store, making sure every item on every fixture and in all store rooms is labelled with the correct store labels;
- This is a good time to go through very slow-moving lines and clear them before the stock take. You could use Cloud Reports to identify stock that has not sold in the last year and have a pre-stock take clearance sale;
- Check all open layaways, work orders and workshop jobs. Make sure stock is assigned correctly and make sure any that should/could be closed are closed;
- Ensure you have at least one reason code set up for the type 'Inventory Manual Adjustment';
- Do a negative item report, investigate any discrepancies and adjust where needed.
Stocktake day
- For an end of year full stock take the store should be closed for the day;
- Make sure everyone is aware of the zoning of the store. Each area could be outlined using masking tape to reduce any miscounting;
- Prepare a 'Mystery Bin'. If any items will not scan or are unidentifiable during the stock take, place them in the Mystery Bin;
- Count each zone separately, and when a zone is counted, the file should be emailed to the staff member inputting the data into the stock take on Citrus-Lime Backoffice, or if doing a paper-based count, this should be handed over to the same member of staff;
- Once all zones are counted, identify, label, and count every item in the Mystery Bin;
- Upload the stock take files to stock take on Citrus-Lime Backoffice;
- Calculate the stock take, Research any obvious discrepancies;
- Resolve any discrepancies and adjust where needed;
- Commit your new inventory levels;
- Clean up the store.
Rolling Stock Take
The above process describes the full store stock take process. However, this is only part of effectively using the stock take functionality to control stock on an ongoing basis.
The ultimate aim is to implement a rolling stock take procedure, which requires you to do smaller, more frequent stock takes on different groups of products.
Planning
- Create a schedule for your rolling stock take. A suggestion would be to base this on departments and/or categories. For example, on Thursday this week we will do helmets, and Thursday of next week we will do shoes;
- You can use Item Price List in Cloud Reports to view the 'Last Counted' date for items, which helps to ensure items do not become neglected;
- Try to make sure that the product groups you choose can be counted quickly and easily within 30 minutes to an hour;
- Make sure you are aware of all the different locations where those products will be;
- Read this article for detailed instructions on using the stock take app:
- And read this article for instructions on how to import the stock take file from the app to stock take:
Preparation
- Label sweep the product group, making sure every item on every fixture and in all store rooms is labelled with the correct store labels;
- Check all open layaways, work orders and workshop jobs for any of the products you are counting;
- Do a negative item report for your product group, investigate any discrepancies and adjust where needed.
Stocktake day
- Create the stock take on the retail system. As you are not stock taking all items in the store, remember to use the Create Blank Stock Take & Add Items option;
- Count all of the products in your product group using the smartphone app or the traditional paper-based method;
- Import the count into the stock take on Citrus-Lime Backoffice;
- Calculate the stock take, and research any obvious discrepancies;
- Resolve any discrepancies and adjust where needed;
- Commit your new inventory levels.
If you follow the above processes, you will find that stock issues will be found more quickly and can be dealt with far more effectively. It should also mean that at any given point during the year, you can run an Inventory Valuation report and be confident that the figures produced are going to be as accurate as possible.
