Stock-taking is a valuable process for every company selling a product/s. If not performed on a regular and consistent basis, it is bound to cause serious problems down the line. For example, when the stock-count on the system differs...
Even though the end of financial year stocktaking points to a specific time when it needs to happen, it is a process that requires attention all-year-round. Unfortunately, not all business owners take note of this important factor. Instead, they...
Stocktaking involves the physical checking of stock items and comparing this with an entity’s existing records. Continuous stock taking specifically means that stock-taking is conducted on a regular basis. From increasing accounting accuracy to improving stock management, continuous stock...
In case you are wondering why you should stocktake, you have come to the right place. Whether you operate a small, medium, or large-scale business, regular stocktaking comes with many benefits. In fact, regular stocktaking will help you find...
Every business, regardless of how large or small, should engage in annual audits so that they can take a full inventory of their goods. Some companies have massive amounts of inventory and it can be very time-consuming to audit...
Control and management of inventory are vital to most types of businesses but especially to supermarkets. In the past, hand-written accounts were kept of inventory coming in and stock being sold. Later, software packages became available to assist in...
When it comes to restaurant management, labour, food costs and general overheads are the top expenses. Restaurant owners and managers all agree that knowing how to manage kitchen inventory is one of the biggest challenges in running the business....
Inventory is the items that are on hand that are owned by a company and that are ready to be sold to the customers. For a store, inventory needs just one classification “merchandise inventory”, which can describe the items...
At the heart of a successful retail business is an inventory system that is managed with precision. It can take some time and years of experience to perfect this important aspect of business management, but the rewards are well...
Whether you operate a small, medium, or large-scale business, performing a complete stocktake at least twice a year is crucial for healthy inventory levels and minimising unwanted losses over time. However, stocktaking in a retail business can become quite...
