As a leading stocktaking provider, a hot topic among our retail clients is stock file accuracy. With customers shopping habits changing since the pandemic stock file accuracy is paramount to any Retailer and has never been so important to get right. This is why Orridge is confident following a stocktake you will be able to have the right stock, in the right place, at the right time.
Most retail chains now use an EPOS (Electronic Point of Sale) based system which records & collates the sale of stock and updates the total stock holding for specific lines. Various actions can affect this and create discrepancies between the physical and virtual stock holding. EPOS systems will, usually, automatically generate replenishment orders based on the quantity of products sold/wasted and the amount remaining in store. If either of these numbers are inaccurate this could potentially prevent further orders being placed and lead to a stock issue, as well as a raft of other problems including loss of sales.
This is where Orridge comes in. As a leading Stocktaking company, visiting many retailers on a regular basis, we’re called upon by many of the leading retailers to correct their stock file. We have found over the years that incorrect inventory is the top cause of this and resetting it along with regular PI counting on a regular basis increases stock file accuracy. We can compare the physical stock to the actual during the stocktake, to ensure this is a true representation of the quantities – the stock accuracy – in store. We have strong working relationships with store managers and effectively communicate the importance of these corrections to those who are unaware. When large errors are discovered in store, this is raised with management, as it often sheds light on a large-scale issue among the stores processes.
At Orridge, we have the expertise and the resources available to make sure that your stock file is accurate. Whether that is getting an accurate stock file through store stocktaking or managing accuracy at the pinch points, it is never too early to get things right in this age of uncertainty!
If stock file accuracy sounds like something that would be of value to you then please give me a call or drop me a line using the details below and I would be happy to give you a free, no-obligation review of how we can make sure you are geared up to serve your customers, regardless of what restrictions we may face.
