Most businesses realize the importance of performing regular stocktakes but they’re often confused about whether to use a stocktaking software or an independent software for it. While wise business owners and managers realize the importance of actively managing stock levels, it can often be a challenge to take time out from a busy schedule for a stocktake. This is the reason many owners and managers turn to either a stocktaking software or an independent stocktaker to carry out stocktaking for their business.
While it can benefit all types of businesses, a stocktake is particularly useful for businesses in the hospitality and food & beverage industry. The demand for food & beverage stocktaking has increased over the years and this trend is expected to continue in the future as well. Now, businesses either have their own internal stocktaking departments or they outsource stocktakes to an independent stocktaker.
Today, the food & beverage stocktakes carried out by external stocktakers are increasing by the day. Often, the people operating hospitality businesses are satisfied with the monthly margins being produced but have no clue about what their actual achievable margins should be and herein lies the need for employing an independent stocktaker.
So, we’ve established that choosing an independent stocktaker over performing stocktaking internally is a better option but how does employing an external/independent stocktaker to perform stocktake compare against using a software for the purpose? Let’s find out.
Stocktaking Software and Independent Stocktaker Compared
Technological advancements have come thick and fast in the hospitality industry in the past few years. However, you need to apply caution when considering a technology that claims to solve all the problems of your business. Often, these systems are a step backwards, which strengthens the case for choosing an independent stocktaker over a stocktaking software.
As more and more stocktakes are recorded on advanced procurement platforms and electronic point of sale systems (EPoS), many businesses today are starting to move their stock control operations to tablets and mobile devices. Bringing together information from all operational areas, these modern business systems provide a single platform for running your business. On paper, these systems look like the easiest and most convenient way forward. And, they apparently save your time and money. Considering this, it shouldn’t be hard to understand why these systems are increasing in popularity each day.
As more and more companies look to streamline operations and achieve business efficiency, these systems are starting to make good business sense. A comprehensive system may include features such as data management and compliance, accounts, payments, inventory and recipe control, purchasing and back office management.In short, these systems can provide a plethora of valuable data and in a single location. But, systems are only as good as the data plugged into them. Here, the term Gigo (garbage in, garbage out) applies perfectly.
You can potentially gain control of your in-house stock with a shiny new SaaS (software as a service) procurement platform that you install for your hospitality business. Often, it is claimed that this saves you time and a fair amount of money as it eliminates the need for independent stocktakes, among other things. However, doing so will generally result in you having to rely on a supervisor or employee to maintain your stock control. And, this is exactly what forces us to say that ignoring an independent stocktaker for stocktakes could have severe implications for your business in the future.
In fact, we would go as far as to say that you should choose an independent stocktaker over a stocktaking software to perform stocktaking for your business. The role of the independent stocktaker has become more important than ever as the role of technology in stock control continues to increase. Next, we explore the reasons employing an independent stocktaker for stocktakes makes sense.
Why Hire an Independent Stocktaker?
If the importance of hiring an independent stocktaker for stocktakes isn’t clear to you yet, then the following reasons to hire an independent stocktaker will help you to clearly understand the importance of using an external stocktaker for your business.
Protect and Improve Your Bottom Line
Independent stocktakers have the knowledge and expertise to protect and improve gross margins on products, ultimately benefiting your bottom line.
Better Manage Stock Loss
The experience of independent stocktakers enables them to provide businesses with detailed analysis and management information and recommendations for better managing stock loss.
Better Manage POS Systems
Independent stocktakers can help you to better manage your point of sales (POS) systems. Using their experience of POS systems and controls, the Independent stocktakers can help you to use the information effectively and improve existing systems.
Accurate and Timely Reporting
By providing you with accurate reports on time, an Independent stocktaker can help save you valuable time. The reports provided by the stocktaker will supplement the reports produced by your own systems.
Respond to Emergencies
Independent stocktakers have the experience to respond quickly to emergency situations such as a management failure or a fire incident that might affect your stock count.
Internal stocktaking or a stocktaking software for that matter, cannot carry out stocktakes and protect your business in the same way as a trained, experienced independent stocktaker. So, if you’re considering installing a stocktaking software for your business, make sure it is to supplement the efforts of an external, independent stocktaker rather and not to supersede it.
Independent stocktakers such as us have a wealth of experience in stocktakes and help ensure that you get the most out of your stocktakes. Get in touch with us today to find out more about how we can help your business!
