What are the risks or implications for not doing a stocktake?

  • Stock being stolen or damaged could go undetected
  • Stock shrinkage – Inadvertently sending out more stock than you should ie one box of ten instead of one item
  • Stock value and cost of sale could be misstated in tax and financial reports
  • Customer satisfaction is effected
  • Running out of stock effecting sales turnover
  • Carrying too much stock or the wrong stock effecting profit
  • Not identifying slow moving or obsolete stock
  • Not identifying trends that may become a problem
  • Incorrect reordering of items and quantities