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Stock Control ETC

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parley
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Stock Control ETC

Post by parley » 28 Jun 2017, 15:32

Hi Everyone, just found this forum, hope someone can help.

As the new owner of a retail shop including Online sales and a number of users with sage logins, what would be the most effective way of stock control and what are the things I need to look out for. We have managed to input all stock/suppliers on sage and have a sales counter PC with Sage login to pick stock and produce invoices as it is sold.

Can someone point to some useful reports that will not only keep an eye on my stock but also daily sales via cash/card/credit.

Thanks for looking

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brucedenney
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Re: Stock Control ETC

Post by brucedenney » 30 Jun 2017, 11:26

The most effective way of doing anything is dependant on a huge number of factors, what is best for you will be different to what is best for me, you really need to learn form experience or hire a consultant with experience.

If everything is working fine, then you are doing it fine, if you have issues then tell us about them and we can suggest things to try out.

The Sales Day Books are good for watching daily sales.
For just about anything Sage :- Discount subscriptions, pay-as-you-go support, application integration, reports, layouts, linked excel spreadsheets, analysis or any other help making life with sage easier/less time consuming Contact me.

parley
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Re: Stock Control ETC

Post by parley » 30 Jun 2017, 11:57

Hi thanks for the response. One of the questions I have is what are the things to look out for on the Sage to ensure everything is straight and above board for instance i have ten widgets in stock, one takes a walk, a stock take would show 1 less but what if the counter person just reduced stock number of widgets by 1 then stock would be straight

So essentially what I am saying is what measure or user restrictions should i put on the counter sales team who also order/pick stock.

Also what are good daily / weekly reports to run.

Thanks

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brucedenney
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Re: Stock Control ETC

Post by brucedenney » 03 Jul 2017, 14:26

It depends on your needs.

If your need is to prevent staff from stealing stock, then the best thing is CCTV.

As far as cheating the system, there are many ways you can steal stock and cover your tracks to some extent but that leaves traces of what has been done, the best bet is to just steal it, when the stock take finds you are short it will be months later and no one will know.

There are also issues with things like friends coming in and being sold goods at huge discount. Salesmen taking sample stock and not booking it out, store (wo)men who forget to book goods out and so on.

You need to have stock control but you also need financial control.

Sure you can put access rights in place and lock the system down so people can't make adjustments, but they can still sell at a discount, they can still take stock and make no entry.

You need to look for stock being sold with low or negative profitability, this will spot staff buying goods themselves at discounted prices, and errors in pricing and mistakes setting selling prices. The profitability reports are great for that.

You need to review all stock adjustments.

Having an accounting system, enables you to quantify the losses providing you do pucker management accounts which is a skilled job. Once you know there is an issue then, you try and plug the gap, but there are so many issues.

Customer retentions, margins, customer spend, customer acquisition costs, staff costs, raw materials procurement, theft and so on, all these things need to be managed, accounting systems are a tool to help you do that, but there is no simple answer, because every business is different.

What you need to do is to establish what the areas in your business are that are weaknesses, then you need to quantify what those weaknesses are costing you. Then you need to address the most expensive ones. Little point in spending a lot of effort to prevent stock theft is there is none and the real problem is that customer retention is lousy.
For just about anything Sage :- Discount subscriptions, pay-as-you-go support, application integration, reports, layouts, linked excel spreadsheets, analysis or any other help making life with sage easier/less time consuming Contact me.

parley
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Re: Stock Control ETC

Post by parley » 04 Jul 2017, 15:31

brucedenney wrote: 03 Jul 2017, 14:26 It depends on your needs.

If your need is to prevent staff from stealing stock, then the best thing is CCTV.

As far as cheating the system, there are many ways you can steal stock and cover your tracks to some extent but that leaves traces of what has been done, the best bet is to just steal it, when the stock take finds you are short it will be months later and no one will know.

There are also issues with things like friends coming in and being sold goods at huge discount. Salesmen taking sample stock and not booking it out, store (wo)men who forget to book goods out and so on.

You need to have stock control but you also need financial control.

Sure you can put access rights in place and lock the system down so people can't make adjustments, but they can still sell at a discount, they can still take stock and make no entry.

You need to look for stock being sold with low or negative profitability, this will spot staff buying goods themselves at discounted prices, and errors in pricing and mistakes setting selling prices. The profitability reports are great for that.

You need to review all stock adjustments.

Having an accounting system, enables you to quantify the losses providing you do pucker management accounts which is a skilled job. Once you know there is an issue then, you try and plug the gap, but there are so many issues.

Customer retentions, margins, customer spend, customer acquisition costs, staff costs, raw materials procurement, theft and so on, all these things need to be managed, accounting systems are a tool to help you do that, but there is no simple answer, because every business is different.

What you need to do is to establish what the areas in your business are that are weaknesses, then you need to quantify what those weaknesses are costing you. Then you need to address the most expensive ones. Little point in spending a lot of effort to prevent stock theft is there is none and the real problem is that customer retention is lousy.
Cheers Bruce

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