Four reasons why stock management is worth the effort
Posted on 8th October 2014 by Fleur Murphy
Let’s face it, keeping track of how much product you have in stock isn’t the most fun part of running your business. The thought of sitting down and counting each and every product on the shelf is enough to make even the most diligent business owner cringe.
If you do take the time to effectively manage your stock, you will feel the positive flow-on effects across your entire business. It will help make everything run more smoothly, and help you ensure your profits and cash-flow aren’t tied up in the stock on your shelf.
1. It keeps your clients happy
Ever had a client pop in to buy their favourite conditioner, only to discover you have none left on the shelf? Or run out of acetone at the exact moment a client walks through the door for their fortnightly mani? When it comes to ordering the right quantities, precision is everything. If you know exactly how much product you have in stock, and how much you’ve sold or used in the past, it’s easy to calculate how much you should order. In fact, the Stock Management feature in Shortcuts will do the number crunching for you!
2. It helps you run profitable promos
If you’re thinking of packaging up products for promotions these holidays, look no further than the bundling feature. It makes it easy to sell multiple products as part of the one promo pack, which is an ideal way to increase your profits in the lead-up to the festive season. For example, you could create a special Summer Loving package – including a sunscreen, tinted moisturiser and body butter – and if they don’t sell, unbundle them in a few simple steps.
3. It will keep an eye on your staff
Have you ever thought your stock levels seem lower than expected, for no apparent reason? If you’re not equipped with the right tools, there can be no way of knowing whether your hunch is correct – but stock management will change all that. The built-in stock tracking procedure is the perfect way to keep track of how much product each staff member is using, by ensuring they check out each product as they use it. There is no better way to help prevent valuable stock going missing.
4. It makes stocktake a breeze
If you find yourself dreading the countdown to the end of the year because of the dreaded “S” word, stock management will change your life! The stocktake wizard makes it easy to complete your entire stocktake in just a few easy steps. You can also choose to break down your stocktake into more manageable chunks, either by brand or by section. Best of all, you won’t have to shut up shop while you’re stocktaking, as stock management tracks how much you’re selling throughout the entire process.