Stock is where most of a shop's money sits. Good stock control means fewer empty shelves, less dead stock and more cash in hand. These ten tips work for supermarkets, textile shops, pharmacies and hardware stores alike.
1. Bill everything
Stock is only right if every sale goes through the billing software – including small items and credit sales.
2. Enter purchases the day goods arrive
A purchase entered a week late makes stock wrong for a week. Enter it when you receive the goods, with lot and expiry details.
3. Set reorder levels
Set a minimum stock for fast-moving items and use the low-stock report to order before you run out.
4. First in, first out
Sell older stock first, especially food, cosmetics and medicines. Lot-wise stock shows which batch to sell.
5. Check expiry every month
Run an expiry report at the start of the month. Discount items close to expiry or return them to the supplier in time.
6. Find your dead stock
Items that have not sold for 90 days lock up money. Clear them with offers and buy less of them next time.
7. Count a little every week
Instead of one big yearly count, count one shelf or category each week (cycle counting) and correct differences with a stock adjustment.
8. Record damage and wastage
Broken, expired or wasted items should be adjusted out with a reason, so you know the real loss.
9. Use barcodes
Barcodes stop wrong items being billed. Print labels for items that come without one – see barcode billing for small shops.
10. Look at stock value and profit by item
Stock value tells you how much money is on your shelves; item-wise profit tells you which items deserve more space.
Namma Billing's inventory management does all of this automatically.
Try it in your shop
Namma Billing does all of this for you. Start a free trial or call / WhatsApp +91 9019912392 for a demo.