prof.ITplus: curing the headache of stock-taking
Stock-taking is a headache for
Posted on: 06 December 2016
By: Cindy Phillips, Marketing Manager
Of course, a company needs to know the value of their stock in order to generate accurate year-end accounts and establish how the business is performing but for many companies it means significant down-time whilst the stock-taking is being carried out. Our customers (before using prof.ITplus) typically report losing a week’s trade due to the annual stock-take. A big hit for any organisation.
One of our customers (before they used prof.ITplus) used to carry out their stock-take between Christmas and New Year. It was very unpopular. Every year the management would receive hassle about it and there was always a high absence rate.
The stock-take itself can be a chaotic affair with stock identified as ‘missing’, ‘lost’ or ‘unallocated’ and employees keen to get the job done and get home.
- Business down-time resulting in loss of revenue
- Increase in wages as a result of paying overtime
- Staff disgruntlement
- Human error
How does prof.ITplus do things differently?
prof.ITplus supports a perpetual stock-taking system whereby a section of stock is counted and tracked every week. The perpetual stock-take or ‘rolling stock-take’ may take a few employees only an hour a week and as a result it means at any one moment in time the business has a good level of accuracy with regard to its stock valuation. When year-end comes there is no need for the headache of counting every item of stock in one go as all stock has already been counted in recent months as part of the perpetual system.
Perpetual stock-taking managed through prof.ITplus allows for a lean warehouse operation informed by the knowledge of which items are regularly restocked and the stock-turn frequency of items.
Your employees are kept productive in the areas that contribute to your company’s bottom line and not a whole week counting products.
Perpetually stock-taking eliminates the need for a week-long close-down which will save a week’s worth of revenue – tens of thousands depending on the size of your company.
To find out more about prof.ITplus, including our stock management module and also customer relationship management (CRM), sales and purchase order processing, company reporting, accounting and online sales integration call 01299 873 873 to speak to one of our prof.ITplus consultants.