Stock taking or stock counting is the process of physical counting of the stock and condition of the items present in a store as well as verification of the same with the company's electronic records. It is mandatorily done at the end of the financial year as it is a part of the company's annual audit. Some businesses even do stock count monthly, quarterly or half-yearly based on their practice and few successful business follow daily or perpetual stock audit.
Why is stock taking important?
Doing regular stock counting can give you visibility over the inventory you have, thus avoiding overstocking or understocking. It helps to identify the damaged, expired and misplaced items, such that you can take corrective action to rectify them. It brings transparency in your business and helps to identify the instances of theft or damage. In addition, periodic stock taking helps to identify the sales pattern of items and classify them as slow-moving, fast-moving and dead stock and thereby enabling you to make purchase decisions wisely. Overall, it improves the way a business operates on many different levels.
How to do stock count with GoSure StockTake?
In GoSure StockTake, there are 2 roles - Stock Taker and Inventory manager. The Inventory manager uses the web-app and the stock taker uses the mobile app. The manager will assign the stock count tasks to employees from the web-app, which will be notified to the stock taker in their respective mobiles. Once the stock taker, completes counting and submits, the data will be populated in the web-app. The manager can take decision either to update it or assign for recount, and once he confirms finally, it will be updated in the ERP. Also, the manager can automate the task assignment, and just track the result and employee efficiency, which makes the whole process simple and efficient.
What are the benefits of using StockTaking app?
GoSure's StockTake helps in complete inventory control by performing accurate and regular stock audits. With GoSure StockTake businesses can,
- Perform stock audit without closing the stores
- Ensure 100% precise and quick stock count
- Eliminate wastage and damage items regularly, thus saving losses
- Identify and eliminate the dead stock
- Make accurate purchase decisions
- Discover the missing and misplaced items instantly and reconcile them quickly
Why is GoSure StockTake by Gofrugal, the best stocktaking app?
GoSure StockTake from Gofrugal is an one stop solution that allows to manage the stock counting with limited staffs and increased efficiency, with 100% perfect inbuilt barcode scanner. It requires 0% supervision by store owners, since they can assign the task, review the stock count, take decision from anywhere. This app has unique features that allow to stock count in busy business hours, and reconcile the stock instantly. Also, you can identify the missing products and do stock correction in real time with instant sync to the ERP. With all the impactful features to meet the business needs, Gofrugal's StockTake can be a great value addition to any business.