Any entrepreneur or manager will tell you that one of the challenges they face in business is stock taking. Some businesses even close shop on the day of stock taking to ensure total concentration and effort to taking stock. This process is vital for every business because it is the only way the business owners can verify that every item sold is accounted for in terms of revenue. Instead of spending so much time going over the stock left and checking it against stock sold and income earned, having a stock take app on hand efficiently simplifies this process. Business owners and their staff receive real-time updates on their sales against remaining stock.
Grocery and convenience stores
These businesses are open every day of the week, and sometimes they open till late. Without a stock take app, owners would find it difficult to confirm if the revenue is what was expected from the sales. Sometimes errors are made, and it is difficult to determine if the shortfall in income is because of price, miscalculated stock, or theft. Stores that serve clients all day and always stay open, such as supermarkets and grocery stores, require stock take apps or a stock take software where daily stock take reports are readily available. This way, those tasked with the responsibility of communicating with suppliers can do so promptly to ensure smooth operations and fewer hiccups.
Fashion and department stores
Online shopping is quite popular in Singapore, especially in fashion and departmental stores. Some of these stores see thousands of sales transactions each day. If employees were to keep track of every transaction and stock remaining, the rest of the business operations would suffer. Stock take apps also ensure clients only shop for what is still in stock. The app automatically deducts the sales from the inventory as soon as a client has paid for the item. This saves the company from having to explain to the client why a product that is not in stock was not indicated as sold out. This can be embarrassing and will project a bad image of the company to current and potential customers.
Some companies deal with thousands of individual products. Taking stock of all items could take weeks, both before and after sales. Stock take apps help to ensure the seamless running of large scale operations where human error is expected. Businesses that deal with bulk sales and purchases also need to monitor the products that are not selling quickly so that they can replace them with others. Besides sales, such businesses are concerned about space constraints and moving their products faster and more efficiently.
The healthcare industry, including chemists, is one of the beneficiaries of stock take apps. These facilities need to be updated regularly to ensure patients do not miss life-saving drugs and medical professionals get the tools and equipment they require to execute their duties well. Stock take apps ensure there are updated records of the items used and drugs sold. Those in charge of requesting for more products will plan appropriately when they receive regular updates of sales from the stock take app reports.
There are many different types of stock take apps for businesses of all sizes. The features in these apps will guide you in choosing the app that will work best for your company.