AdvStock Inventories

  Whether you’re handling inventory management using Excel or are using AdvStock’s retail solution, stocktaking is a critical part of running a retail store. Advanced and detailed planning is necessary so painful stocktaking won’t come into existence. Below are the top three stock counting tips we came up with for the hardworking retailers: 1. Use inventory scanners or other types of stock counting technologies Gone are the days when physical inventory counts are done using a piece of pen and a pad of paper. Traditionally, others have also been making use of a physical inventory count sheet to tally up the products and reconcile the data in their system.   While this method can get the job done, it’s highly inefficient and it requires double entry. Since physically counting of inventory is already a “manual” task, the last thing you need is to manually tally and record data. Te remove the hassle of manually doing stocktaking, AdvStock has invented a stocktaking ...

 Stockouts could be one among a retailer’s nightmare. Not only do they lead to lost sales, but out-of-stocks also result in reduced customer satisfaction and lower loyalty levels. Shoppers often feel let down when you don’t have what they’re looking for, and the last thing you want is to disappoint customers. There are a number of reasons why retailers are unable to track their inventories properly. That's why they go out of stock. One is inaccurate data. Inaccurate data is often obtained from the manual  retail stocktaking . When what has been recorded doesn’t match what’s in store, the problem can be traced up to the misplaced products, returns, shipment variances or stolen goods. Another reason for stockouts is the failure to re-order in a timely manner. Evidently, this happens due to the lack of updates on your current stocks. Poor management of your people, processes, and technology can also lead to stockouts. No matter how organised your retail stocktaking is, ...