Using Technology to Stocktake Effectively
Stock management is the single most basic term that comes to mind when talking business. However with so many things to handle the focus can easily shift. But this is a process that demands attention because one slight mistake can make the outcome look pretty dreadful. So how can you ensure minimal mistakes?
For a hassle-lite stock-taking experience, you should consider using Stocktake App Singapore to help you do so. Stocktaking apps are very common now and vendors such as Orangekloud will help you solve your logistical issues with cutting edge mobile apps for your company. Visit their site today.
Let us take a deeper look at this issue through this article by Lorraine Gannon.
How can technology help you in maintaining your stock?
With much to manage in terms of stock and payment, inventory software in hospitality is a central part of a broad spectrum of business processes that includes purchasing, recipe and nutrition management, electronic point of sale (EPoS), invoicing and credit note management. Read more here
Inventory technology is something that helps in almost any industry. Especially in catering, it helps in standardizing profit margins, highlighting training issues and waste problems so that they can be better dealt with. It even possesses the ability to recognize the trending customer demands so they can be met in time of booming sales.
Sometimes mistakes can occur due to various reasons which may vary from miscounting to wrong deliveries. However, with the advent of technology, we can predict theoretical numbers which can become comparative models for us to cross our checklist against, thus saving ourselves from the risks of miscount. The decrease in costs is one of the major contributors to increased profitability in catering businesses.
In order to avoid failure, you can train staff so they can better apprehend the importance of stock reporting. If you have a business spread out in multiple areas, you can ensure a centralized host system to avoid overlapping, confusion and delays. You must also employ someone who would not make any mistakes in forecasting as it determines what your business looks like for the upcoming years. Read this article below by an Unleashed writer to find out what further steps you can take.
What you can do for a worthwhile stocktaking
Regular stock taking afford businesses an accurate accounting of their stock levels, highlight major areas of weakness and loss – such as theft, damage and obsolescence – and provide the data that inventory managers need in order to forecast, plan, and purchase to best meet customer demand. Read more here
The very basic thing to start off right with is making a schedule. You cannot allow disruption in normal business days as that would mean loss when the production comes to halt. You will also need to employ individuals with good organizational skills as everything needs to be cluster free. Marking should be done to avoid double counting. Also make sure that you are valuing your stock correctly. For that you must be constantly aware of the current stock prices. You must also be aware of the inventory which has the biggest turnover rate, so you can demand immediate supply of it.
Next, read this super informative article below by Silk Logistics to find out how you can improve on your management.
Giving a new face to the warehouse management
When it comes to technology, no stone has been left unturned, with every aspect of our lives and businesses being affected. With the main point of technology to improve efficiency it’s no wonder the logistics industry has embraced technology with open arms. Always on the front line of new logistics tech, warehouse management systems are continuously evolving and progressing and there is a host of new gadgets and gizmos set to further reshape the way we run warehouses. Read more here
Robots or different degrees of power and authority are already being designed to look over some areas of control. Even though having a robot roaming around instead of a human coworker may not be everyones dream job, it may make work much more relaxing and more efficient. Robotics is being designed to infiltrate this world of warehouses where manual labor is perishing at a high rate.
You can also go for cloud based storage. You can easily ask your suppliers to connect with you real time. This way you can easily supervise stock and inventory in real time. This method means being fully updated about the stock levels, track order fulfillment and delivery. However it also places a lot of power in the hands of the clients. They are able to not only share their data, but easily read yours too.
In conclusion, technology has allowed us to attain new heights in this era of fast paced advancements and now tech can help us take control and charge of the assets stored at those unreachable heights. This technology may have the downside of unemployment attached with it but with the charming attribute of effectiveness in terms of minimal error and safe environment, it is hard to resist at an affordable rate.