Why you can’t afford not to stocktake

Have you ever done a ‘stock take’ (or best efforts) and continually find unaccounted slippage that you cannot track? 

You’re not alone.

Managing inventory is hard and finding a good inventory management software can be even harder.Not only do you need to have resources which is a massive challenge for everyone right now but the biggest challenge by far is having an integrated system to utilise that information in other ways.

So how do you fix it? 

With the right information being fed into TOM you can have full visibility of your inventory while streamlining your operations.

If you start with a stocktake, that will flow into your procurement, if you receive your stock that will update your inventory, then when you pack your orders and release invoices that updates your stock.

Essentially that means you could do a stocktake as little as weekly, even monthly or a rolling stocktake and if you have a slippage problem you would have the power to pin point where it’s come from and then fix it.

Having the right operational flow will give you power and visibility you didn’t think was possible.  

The best by product by far is being able to access predictive procurement.  To learn more about how this game changer works click here.

Standby for our upcoming articles will talk about other tools that can help;

·       Goods inwards – receive what you purchase

·       Wastage – account for what you throw away or donate

·       Reconciling your purchases – which avoids over paying your suppliers

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