Knowing and managing inventory well is an obligation for companies that want to stand out in the market, attract and keep their customers. In this sense, to know if the stock really has what the store offers, it is necessary to carry out the so-called stock inventory.
In this article we will see what the stock inventory is, what it is for and how to make an inventory.
>> Read also: Inventory Management: Why is it important?
What is stock inventory?
The stock inventory is the system of identifying, classifying and counting the products that are stored. In other words, it is a complete listing of available products and materials.
This inventory consists of accurate and useful data for decision-making, also covering missing, out-of-turn, damaged and/or expired items.
The Brazilian Accounting Standards establish the guidelines for creating this inventory, as well as the standards to be followed, including the Inventory Register.
Three types of stock inventories are most common, they are:
Rotary
Rotating stock inventory requires stock counts with predefined periods such as weekly, monthly, etc. This count is important in companies with a high turnover of goods.
journal
The periodic stock inventory is carried out at the end of a certain established period, with the objective of updating system information, solving existing problems and creating financial statements.
Permanent
The permanent stock inventory is done in an automated way, each entry and exit movement of stock generates a status on the product. This type of inventory takes place continuously and does not depend on an established period.
What is the stock inventory used for?
The stock inventory is used to confirm that the products being sold actually exist in stock, that is, to verify that your company has the products it believes it has.
Stock inventory actually goes beyond controlling the entry and exit of goods. It helps improve administration as it improves purchasing management. With the inventory, it is possible to keep the shelves always stocked, to avoid theft, loss, misplacement and even the deterioration of the products.
The inventory needs to be very detailed to help correct flaws and streamline the logistical process.
Why is stock inventory important?
In addition to organizing, there are many reasons why stock inventory is important and beneficial, such as: reducing losses, waste and costs; improvement in stock management and in customer service, in addition to assistance in meeting legal requirements, in addition, discrepancies between items in the physical inventory and the accounting area may result in fines.
>> Read also: What is PCP: Production Planning and Control.
How to do stock inventory?
In order to carry out an adequate and functional stock inventory, it will be necessary to organize some steps, such as:
set a period
First of all, you will need to define a day or week when your company is calmer, without a lot of stock movement to be able to follow the next steps.
Sort the products
To classify products it is good to divide them into groups, subgroups, families, etc. That way it will be much simpler to make a relationship between them.
organize the products
After defining groups, subgroups and the like, organizing the products on shelves, boxes or cabinets is a good way to make the process more agile on a daily basis.
describe in detail
Each product must be separated by category, and must be described in detail, with weight, color, measurement, voltage, for example, in addition to purchase and sale values.
Identify inventory turnover
Defining your inventory turnover is the next step to follow, so you can know the rotation period and determine when the stock of a given product needs to be replenished.
Definition of the periodicity of stock inventory
Incoming and outgoing products need to be updated frequently for stock inventory to be effective.
In this step, you will define how often your industry will count products in stock.
check with confirmation
At each count it is important that there are at least two collaborators. So, when the two finish counting, if the product numbers are the same, it means that the counting was done correctly.
Data verification with inventory control system
After performing all the steps mentioned above and having all the necessary data, reconcile the information you will have with your inventory control system.
This way, your information will remain safe and up-to-date.
use of technology
We know that practically all processes can be automated through technology, and this work would not be different. Therefore, use technology to your advantage to keep your data up to date. Invest in a system with inventory control and watch your company's productivity increase.
Conclusion
The stock inventory is a significant part of the routine of an industry, its presence or absence makes a total difference in the organization, agility and consequently in the costs and productivity of the company.
Identify which inventory model is most suitable for your company and start applying it, define periods and the best strategy for it to work correctly in the service environment and with the team.
If stock inventory is already part of your routine and the strategies and models are already well defined, continue to keep it in practice and invest in technology to achieve even more results.
Remember to carry out each of the steps so that there are no discrepancies during the process, and to use a system for inventory control, in this way the margin of error decreases and the service becomes more efficient.
A management software that offers control and information about production and products may be the solution you are looking for, and BMS Tecnologia can help you!
If you want to optimize production, control processes and innovate in your company, visit our website and learn about our products. Get in touch with one of our experts to understand what BMS products can do for you and your company!
