Managing stock for any business is crucial. It’s amazing how so many businesses don’t have an effective, disciplined stock management process in place, some don’t even have a stock tracking setup.
When it comes to the end of the financial year, businesses generally are required to ‘stocktake’ their inventory to get an accurate picture of what they are carrying in relation to stock numbers so they can use this for depreciation and financial planning / forecasting for the coming year.
Stocktakes conventionally were very laborious and time-consuming. And quite frankly, they still are! But with well-structured stock management plan and professional inventory management software like Zulu in place, it can take some of the bigger headaches out of managing your inventory.
Some key things you want to consider with a stock management system for multiple locations is:
- How easy is it to transfer stock between warehouses / locations?
- Can stock be transferred in bulk?
- Is it easy to view an audit log for stock movements (including dates / times / quantities)?
- How easily can a stock report be generated for a warehouse / location?
- How easily can you see the value of stock in a specific warehouse / location?
- Is there the ability to get alerted when stock is due to be reordered?
Lots of these things are crucial to managing your stock on hand effectively and ensuring reports and data can be extracted with minimal administration.
If you’re looking to get your stock in order, consider trialling Zulu free for 30 days or contacting us for one-on-one demo and onboarding.