If you’ve recently completed a stocktake and you have seen some discrepancies in your numbers then this checklist is for you; it should help you spot where the discrepancies are and how you can resolve them.

This is a checklist we go through with our clients when we complete stocktakes for them and they feel there is a discrepancy.

•  The first thing you should do is recount the stock that there is a discrepancy with, the issue could be as simple as miscount or a missed box of products during the original stock counting process.
• Check another location as you may be storing stock in two places, you may find that some are in the front of house store cupboard while others are in your store cupboard in the kitchen. Alternatively, stock may not yet have arrived from your supplier.
• Ideally everyone that is involved in your stocktake should be aware of the correct measurements, but this is often where discrepancies can take place. Check if products were checked and counted in units or boxes and what measurements.
• It is not as common, but sometimes products can be labelled with the incorrect SKU or product identification number and this can really mess up records. Make sure you double check your stock management system matches the product you are counting.
• Products can come in different shapes and sizes so make sure that when you are counting stock you are not mistaking it for a similar product, a variation of the product or a different product size.
• Check through your inventory records as sometimes a discrepancy can be a simple mathematical error and stock does not need to be recounted after all.
• Make sure that you have no missing paperwork as sales that have not been accounted for can often through off a stock count altogether. Make sure all paperwork has been found, especially if it has not yet been entered into the system.

If you still have discrepancies and can’t understand why it could be down to employees or customers stealing stock; this is not a nice experience but if there is no other logical reason for lost stock then something like a mystery customer or CCTV could be some of the options to remove this risk.