Keeping your stock up to date within Retailer will allow you to have comprehensive records on sales and will allow you to know what stock is selling great and what stock is selling poorly, what you can get rid of and what stock you could do better on. Also, good stock management can highlight other issues like theft. Stock management is not a once a year thing; it should be managed all year round.
Arriving Stock
Good stock management starts with arriving your stock into retailer using invoice arrivals or express arrivals. All stock that comes into the shop must be arrived into Retailer. Aside from managing stock, this will also mean that every stock item will scan when staff go to sell stock.
Entering Sales Through POS
Stock QOH is also affected by sales. If you sell an item it is always important to scan it through your point of sale screen and make sure the correct item that appears.
Some stores use a department button such as Cards or Misc rather then scan the items; this makes it impossible to track stock levels. If your stock doesn't scan, see the above Arriving Stock section.
As well as having incorrect QOH levels, you are losing the opportunity to report on what are you actually selling. This will cost your business money in the future.
Stock Returns
If the stock is being returned back to its supplier it should be done in stock return screen on your main retailer home page. Doing a stock return will adjust your stock on hand and will also produce a list of stock that has been returned to the supplier so you can track what is going back.
Departments & Categories
Stock movement is not only the only thing stock management is all about; stock allocation is crucial as well. Assigning stock to a department and a category is a great way to organise your stock and group the items together. Departments are created to be able to more easily seperate and interprate sales reports.
Stocktake
Stocktaking updates the QOH for all stock. This can be done as a big stocktake once a year or you can do a custom stocktake and break the stock up into smaller sections. Discrepancies in a stocktake can show issues with stock management or theft.