For POS users – How to Prepare for Physical Inventory
It’s getting closer to that time of the year, where many retailers are doing a physical inventory (PI) of their stores. This can seem like a very daunting task, but as long as you prepare for it correctly, your PI experience should be relatively painless!
You can never be too prepared!
The first step to a successful PI is preparation. There are many things that you want to check, clean, and close before you start an inventory. Finding these before you start the PI can do wonders for both your PI and your sanity!
Check Retag any items that may be missing tags. Check the displays and shelves to make sure products are in their correct places, which will make counting them easier.
Clean Take a look at the other areas of your store, like stock rooms, hold areas, and cashier stations. These places are notorious for holding “missing” items from a count. Clean them out before you even start the inventory to decrease the chances of your counts being inaccurate.
Close Documents or receipts that are waiting for more information or are waiting to be completed are called “open”. If you find and close documents that are no longer needed after you have counted your inventory, you will have altered the stock of your inventory, and your counts will no longer be accurate. Be sure to close out any open documents or receipts that you don’t need to keep open before you start your inventory.
This is only the beginning to true PI Preparation, but implementing these actions can give you very good results. Happy counting!
CAM Commerce Solutions was founded in 1983 and develops, markets, installs and services highly integrated Point-of-Sale, ERP and Payment Processing solutions for small to medium size retailers. These integrated solutions include: point-of-sale, electronic payment processing, inventory control, eCommerce shopping cart, gift card, customer loyalty, and extensive management reporting. They offer a wide variety of products and services that address the automation needs of retailers. Today, CAM has over 25,000 customers using our software products.
You Might Also Like: