• by ASP Microcomputers / From Stocktaking / April 30, 2019 /

    What Is the Best Practice for Warehouse Stock Counts?

    When it comes to product sales, most businesses share one common overriding fear – dead stock.

    Items or products that are not selling don’t just take up unnecessary space. These items also tie up the business’ money.

    One of the best ways to control dead stock from becoming a real problem is by engaging in regular and productive stock counts.

    This article will take a look at the best practices for warehouse stock counts and how to approach them in the most efficient way.

    Planning and Setting Dates

    Proper planning is very important if the stock count for a warehouse is going to be beneficial.

    The planning includes the set dates when the counting needs to take place.

    It is definitely recommended to keep the warehouse closed and non-operational during the count, hence the reason for planning ahead.

    For bigger establishments that move a lot of product, annual stock counts of the warehouse should be mandatory.

    Human error and software glitches can paint an inaccurate picture of current stock levels and can lead to bad orders and frustrated consumers.

    The point is that a clear date or time-periods need to be set aside for when the stock count is going to take place.

    Have the Necessary Stock Count Tools/Software

    Another crucial factor for a successful warehouse stock count involves the tools and the software to get the job done.

    For example, using a pen and paper to record and process everything won’t just take a lot of time. It is also a dated system that is not very accurate.

    Instead, businesses should opt for modern techniques and options.

    For instance, barcode scanners are incredibly useful, especially for bigger stock counting projects.

    With barcode scanners, everything from the counting to capturing the data is streamlined and made easier.

    There is the additional question of whether the business should outsource the task of stock counts to a professional third party.

    Given the significance of the results, it could be in the interest of the business to consult with experts before making final arrangements.   

    Assess, Divide, Organise

    Counting the stock in a big warehouse really has to be approached with a specific strategy.

    The best way to customise a strategy is by applying three specific elements:

    • Assess the different products and departments of the warehouse
    • Get all stock divided and grouped for easy access and counting
    • Organise the individuals for the stock count and assign them with specific areas to focus on

    It is usually best to undertake a stock count when levels in the warehouse are low and easier to manage. However, if this is not possible, always try to stay organised.  

    Proceeding With the Stock Count

    The individuals responsible for counting have to understand the importance of why they have to be accurate.

    However, there is nothing wrong with using a double-count system.

    This way, if any discrepancies are found, they can be addressed immediately and before any official data is captured and matched.

    How Long Does a Full-cycle Stock Count Take?  

    Depending on the number of products in the warehouse and the daily stock control operations, a full cycle count does not need to take very long.

    Of course, there might still be numbers that don’t add up.

    However, variables like damaged and stolen goods have to be taken into consideration – even if it means ending up with a negative stock count result.

    Overall, for the counting and capturing, two or three days should be more than enough to get a bulk of the work done.

    Consider Professional Help

    An in-depth stock count can reveal many issues and solutions within a business. However, it needs to be done with accurate measures and capturing equipment.

    If you need help managing your inventory, then look no further than ASP Microcomputers.

    We are the market leader when it comes to the development of customised and packaged solutions.

    This includes Inventory Management, Portable Barcode Readers, Supply Chain Management, Time and Attendance and Asset Tracking to name but a few.

    Please call us today on 03 9578 7600 or 1800 061 642 or contact us through our website on https://www.asp.com.au/contact-us/.