Independent Stocktaking Services
- February 2, 2022
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Independent Stocktaking Services
What is stocktaking?
Independent Stocktaking Services in Kenya (or stock counting) is when you manually check and record all your business’s current inventory. It’s a vital part of Its inventory control, but it will also affect your purchasing, production, and sales. Much like any inventory aspect, the stocktaking process will vary hugely from company to company.
Despite the name, a stocktake is about more than just stock management. Any inventory that your business needs should be included. If you’re a manufacturer, your example, you’ll want to record the material you use to create your finished goods — because running out of these would be just as disastrous as running out of Stock.
GENERAL STOCKTAKING
Independent Stocktaking Services in Kenya can reduce your overall running costs by identifying stock losses or inaccurate pricing. Our stocktakes or Stock valuers will save you time and money by carrying out the Stocktake quickly, efficiently, and with as little disruption to your trading business as possible. Most people on hearing the words “Stocktaking” or “Sto” k take” run” and “ide because “e they envisage long hours of counting, reams of stock lists and stock counts, hours of collating and compiling of figures – with possible re-checks of stock counts, the final results being unsatisfactory, adding to the person-hours, overtime, and inconvenience caused to the business, it seems only good business sense to use a professional stocktaking company like ourselves, to take this milestone away and reduce the cost as well. Regular Stock Checks could stop any losses from escalating each year, affecting cash flow and continued profitability. 2Max Group is experienced in all trades, including Newsagents, Forecourts, Supermarkets, Convenience Stores, Hardware, Pharmacy, Off Licence, Pubs, Clubs, Garden Centres, Warehouses, Stadiums, Local Authorities, and Leisure Centres.
In addition, we carry out work for Government Departments, Police, Fire, and county Governments – all of which require security clearance checks for our staff.
We provide comprehensive independent stocktaking services in Kenya to the Hospitality, Retail, Automotive, and Real Estate industries, among others.
Our independent stocktaking services in Kenya
With Manual Counts or Barcode Scan Counts!! We have flexible stocktaking systems and expertise to cater to all types of businesses, from large warehouses to the local corner shop. Our experienced staff is thoroughly trained in all aspects of stocktaking.
Why are stocktakes important?
Any product-based business must ensure that its levels are 100% accurate from time to time as a part of its inventory control. In some countries, it’s even a legal requirement.
1. Seeing how well you’re tracking your inventory entirely on your system for accurate stock levels is usually a bad idea. By comparing the figures from a stocktaking to what you thought you had on hand, you can identify discrepancies and fix them before they become problematic.
If you aren’t tracking your aren’t well as you thought, then it may be a sign that you have poor inventory control. It’s worth fixing issIt’ssooner rather than later before they lead to more significant problems such as:
- Stockouts (when you run out of products to sell)
- Overstocking (when you have too many products on hand)
- Dead Stock (when your products become obsolete before they can be sold)
2. Discover stock issues
Cloud software lets you easily track your product levels and location, but it can’t do everything. For example, the cant system might not highlight a transit problem, whereas a manual check will.
Use a stocktake to identify problems your inventory management system might have missed: such as damaged products, missing orders, poor control, or theft. Sometimes these are one-offs that don’t cause too much don’t, but they can also be symptomatic of a deeper flaw.
3. Ensure your business is meeting targets
When it comes to monitoring the performance of your business, you don’t want to leave it to chance. For instance, calculating key metrics such as inventory turnover requires 100% accurate figures.
Once you know exactly how your inventory control is performing, you can refine your procedures and plans to increase efficiency and grow margins. For example, you might:
- Reduce the amount of safety stock you keep on hand in case of an emergency or surge in demand
- Change up your pricing to ensure all your products are selling quickly
Companies Avail the Following Benefits by Outsourcing to Us
- Unbiased and accurate information and verifies the validity of third-party market research data
- Offers timely and cost-effective primary research services that enable companies of all sizes to use original research data
- Latest research tools, techniques, and skillsets to provide market research results that are based on modern data analytics processes
- Comply with current industry-specific regulatory and legal reports and guarantee that your compliance departments are always aware of the latest legal changes in both existing and new markets
- Economic valuation experts provide fast turnarounds whenever you need taxation or accounting support for new market areas.
- Media research and advertising experts to help you optimize marketing expenditures for new products and markets
- Independent product research services that facilitate a prudent preview of consumer reactions and buying decisions before making final strategic choices
Reporting
We offer various services and packages as part of our stocktaking and consultancy services.
- A fully quantified stock holding report.
- A summary of suppliers in any one period and a detailed report showing each individual purchase or credit.
- A transfer report which shows records of any stock either in or out of loan.
- A till to actual sales reconciliation report; this analysis identifies stock variances which can then be reported to the client.
- A general audit summary which gives you an overall view of your audit in layman’s terms.