If you’ve ever felt a bit overwhelmed by an impending stocktake, you’re not alone. The key to a smooth and successful stocktake (like anything else) lies in the preparation. Think of it like planning a party—you wouldn’t throw one without organising everything first, right?
So, let’s dive into the essentials of preparing for a successful stocktake in advance.
- Organise Your Space
First things first, let’s talk about your stockroom. A cluttered and disorganised space can turn your stocktake into a nightmare. Spend some time tidying up before the big day. Clear the aisles, label shelves, and ensure that all items are in their designated spots. This not only makes counting easier but also reduces the chances of missing any items.
- Gather Your Tools
Imagine trying to cook a meal without the right utensils. Stocktaking is no different. Ensure you have all the necessary tools ready—pens, notepads, barcode scanners, and inventory sheets. If you’re using any digital tools or stocktaking software, make sure they’re working correctly and are updated.
- Train Your Team
Your team is your greatest asset. Make sure everyone knows their roles and understands the stocktaking process. Hold a briefing session a few days before the stocktake. Go over the procedures, answer any questions, and run through some practice counts. A well-trained team is efficient and less likely to make mistakes.
- Schedule Wisely
Timing is everything. Choose a time for your stocktake when your business is at its quietest. This minimizes interruptions and helps your team focus. For many businesses, this might be after hours or on a weekend. Also, ensure you allocate enough time for the stocktake. Rushing through can lead to errors and missed items.
- Prepare Your Data
Ensure that your current inventory data is up-to-date. This includes recent deliveries, returns, and any items that have been moved. Having accurate data to start with makes spotting discrepancies much easier. Plus, it helps in cross-checking the counted stock against the recorded inventory.
- Plan for Discrepancies
Despite your best efforts, discrepancies are bound to happen. Plan for this in advance. Have a system in place for addressing and resolving these discrepancies. Whether it’s recounting items, checking with suppliers, or investigating potential theft, being prepared will help you handle these hiccups smoothly.
- Create a Checklist
A checklist is a stocktaker’s best friend. Write down everything that needs to be done before, during, and after the stocktake. This includes tasks like organising the stockroom, training the team, updating inventory records, and double-checking counts. A checklist ensures nothing is overlooked and keeps everyone on track.
- Stay Flexible
Even with the best preparation, things can go off-script. Stay flexible and be ready to adapt as needed. If something isn’t working, don’t be afraid to change your approach. Flexibility can turn potential setbacks into minor hiccups.
Preparation is the foundation of a successful stocktake. By following these tips, you’ll set yourself and your team up for a smooth and accurate inventory count. Remember, the more effort you put into preparing, the easier the actual stocktake will be.
If you’re still not quite sure where to begin, call in the professionals. The team at Abacus Valuers have decades of experience working with businesses just like yours. Give us a call on 01637 874609 or email book@abacusvaluers.co.uk to see how we can help.
