The Importance of Stocktaking
If you are running a stock-based business, doing a stocktake regularly and correctly is essential. Having updated knowledge of the stock levels held in the inventory helps to avoid over-stocking, prevent stealing, and identify damaged or misplaced stocks. Proper stocktaking also lets you detect slow-moving or dead stocks and reconsider your pricing strategy. In other words, stocktaking highlights any issues within the warehouse processes. All the insights gained from monitoring your stock levels make increasing your gross profit easier. You also have better control over allowances and reduce waste. If you are dealing with perishable goods, stocktaking helps you maintain productsÕ quality by keeping track of their expiry date and packagingÕs condition. Traditional vs Digital Stocktaking You know the importance of doing a stocktake. The next step is to figure out whether you want to do it manually or digitally. To help you make the smart decision, letÕs see the pros and cons of bot...