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Why Do I Need To Conduct A Stocktake?

Proft, Loss, Risk

Just to start with, you don’t need to conduct the stocktake yourself; you can hire an independent stocktaker, like us, to conduct your stocktake for you. However, a stocktake does need to be conducted within your catering or hospitality business and in this blog post we tell you why.

We know that many owners of catering and hospitality businesses see stocktaking as a necessary evil, but there are actually a number of benefits you will experience from completing a regular stocktaking within your business. We have listed some of the benefits below for you;

  • Improved Cash Flow

A regular stocktake can help you spot any slow moving stock items and recommend reducing the level of this stock that is held on site. This in turn can improve the cash flow with your business.

  • Accurate Profit Margins

Through regular stocktakes within your business you will be able to monitor profit margins across the range of products you stock, more accurately. This enables you to make smarter business decisions when ordering more stock, or creating deals and special offers.

  • Identifying Short Dates

While a regular stocktake will identify slow moving stock, it will also identify products with short best before dates. By being aware of these on a regular basis it means you can create promotions or offers to use the product, instead of wasting the stock and throwing away profit when the stock is out of date.

  • Improve Stock Management

By having regular stocktakes completed within your business you can gain a better understanding of your stock levels. In turn this will help you to minimise wasted stock and also enable you to identify early on if you have a theft problem within your business.

 

If you have any stocktaking queries or would like us to help you regular stocktakers or year-end stocktakes, please contact us now.

Why Do I Need To Conduct A Stocktake? was last modified: by

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