Stock taking has a bad reputation. Borne out of memories of the teenage Saturday job: wading through reams of paperwork and trying to match up hundreds of barcodes with products you’re unable to find on the Excel sheet. It was the thing no one wanted to do. And, perhaps its image might be one of the reasons why some retailers still don’t add stock taking to their task list, despite the fact that it is fundamental to good retail practice.

Stock control is essential for a clear picture of your shop sales and helps retailers to focus on areas of the business in need of the most attention. In fact, it’s impossible to run a successful retail outlet without it.  So, why do so many retailers deprioritise stock taking?

“We know that golf retailers are busy, especially during the summer months and we hear that excuse a lot,” says XPOS Training Manager, John Williams. “Sadly, if teams don’t allocate time for stock taking, there’ll be a knock-on effect across so many parts of the business.  Your reports could even show quantities for stock that you don’t have!”

If you’re serious about growing your retail business, stock taking is possibly the most important job you could do this week.  Here’s why:

 

1. Know how much money is tied up in stock. If you’re stock taking regularly, you should also check your stock turn in XPOS to work out how efficient you are at selling that stock
2. No one expects stock to be stolen, but you should know if you have a problem
3. With the current stock issues across the globe, you need to make sure you have the right amount of stock for your business
4. Consistent stock takes will keep the Reserve & Collect area of your XPOS Caddie app up to date so golfers can even see what sizes and colours you have in store
5. When it comes to buying decisions, proof of what’s already in stock will enable you to negotiate better deals and only buy what your business needs

 

EXCLUSIVE FOR XPOS CUSTOMERS: READ HERE "HOW TO STOCKTAKE LIKE A PRO"

 

Tools of the Trade

The good news is that new technology has taken away the pain, savings hours and hours of admin time.  Two free tools, boasting fantastic convenience and time-saving benefits, are the XPOS App and the Bluetooth scanner.

The XPOS App converts smart phones into barcode scanners and enables retailers to scan products around the shop, without the need for a nearby till.  Furthermore, the app is linked to the shop’s XPOS sales and stock software which updates new information during the stock take, enabling accurate reporting.  Retailers can also stock in using the same app, without having to put products onto shelves first.  Find out how here.

The XPOS Bluetooth scanner links to your smartphone and delivers the fastest and most accurate option for busy retailers. “Stock taking isn’t anywhere near as time-consuming as it used to be”, says John Williams, “with a Bluetooth scanner you can complete a stock take for a whole category in just minutes and I can tell you it’s actually quite good fun.”

No excuses now.

 

 

Ciaran Hegarty, PGA Professional, Millicent Golf Club

"You can’t have an accurate reflection of your business if you don’t know what stock you have.  It’s crucial to know if your money is being used effectively, or whether items are being stolen, for example".

"Regular stock takes help us to see patterns and identify issues quickly.  It isn’t enough to just do a stock take once a year for your accountant as you’ll have gone through 2-3 product life cycles by then.

In the pro shop, everyone has a Bluetooth barcode scanner assigned to them, as well as the XPOS App on our phones. So, whether it’s stocking in or carrying out a stock take, the team just gets it done".

 

Lewis Garbutt, PGA Trainee, Ross Jackson Golf

"We stay on top of stock taking to ensure our reports are accurate.  Unlike a lot of pro shops, we don’t stock many high-value ticket items. We aren’t too worried about theft because we do a lot of custom fitting and tend to order in stock rather than keep it in the shop.

Having an accurate picture of our stock shows us what’s selling and what isn’t. If something hasn’t sold for 6 months, we may want to put it into clearance.

Our retail manager, Chris, manages the stock and aims to complete stock takes across a few categories every month. He keeps it ticking over.  We use the XPOS App on our phones and we also have a wired scanner by the till".

 

NEW GUIDE ALERT: HOW TO STOCKTAKE LIKE A PRO WITH XPOS

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2021 Numbers you Should Know

26,000 stock ins through the XPOS App

16,765 stock takes using our XPOS apps

1  the ideal number of stock takes you should do each week.

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You can download the XPOS App via the App or Google Play stores. For more information about the Socket Mobile Bluetooth scanner, please hit the SUPPORT button on the homepage at www.crossovertec.co.uk