Stock Take (1) Management

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Stocktake Management System

AwardPro provides you with tools to assist into stock take activities that will help you do stock taking and record inventory into you data base. Getting all stock recorded into your system is beneficial as it makes stock ordering even easier and quicker as sales orders draw from stock. It will also provide you with valuable insight into the actual value of your stock which is useful for accurate business profit and asset assessment.

The thought of doing a stock take can be daunting. Often is the case that even the most organised businesses have piles of stock shoved in odd places and old stock that may be hard to find detail for. You’ll also be faced with the time factor. Some people will find it hard to find the time and time management skills need to be drawn on.

You don’t have to do stock take in one big session. You can do a section at a time such as gather up your plaques and count them all up, add them to AwardPro’s data base and marking them as done. Perhaps you’ll tidy that section and then move on to another section. It’s a good idea to tackle stock types you are always using such Name Badge blanks, Glass Trophies etc. based on your business model. This way the task is broken down into smaller sections and led by priority product. This is exactly what we did in my business and finally after having the major product groups recorded and active we then spent a couple of months, a bit at a time, sorting through the whole factory; tidying up sorting stock into categories and throwing out old product that was not worth keeping. This made it easier to complete the stock take task and get everything recorded.

You may decide to record absolutely everything or leave some things out. It’s all up to you. It is hard to keep the integrity of hardware such as rods, couplers etc or certain engraving sheet especially if you do not recording material usage of things such as standard trophy engraving plate so you will decide what to exclude form the stock take. These types of items are usually purchased by adding them to a suppliers purchase order as inventory (Fig 1) however I recommend that you do not mark them as inventory but rather mark them as non-inventory so that the value does not get added to the stock.

You may find situations where the stock level of certain components is extremely high such as 100,000 nuts or 300 sheets of engraving stock whilst you may actually on have a few hundred nuts and couple of sheets. This is likely because you order the stock directly at the supplier order screen and set it to inventory but don't take up the stock as you use the products. The best way to handle this is to select Misc/NON INVENTORY so that this type of stock does not get added to inventory.

In System Set Up/ Reset you will see a button Reset Stock Levels to Zero. This button will zero out all stock levels bringing your entire stock level to zero.

You can print these out by supplier or by component type and use the form to record stock counts

This report provides you with current total stock value or stock value by selected supplier or component type.
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If you open the Component List Screen you can then turn the editor on and do bulk stock level entry work.
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You can open a component import spread sheet and add your stock levels there and then re-import the list to add the counted stock level to your system.
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