? Tips for Effective Inventory Control

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!

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ERMS

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Inventory

Financial Reports

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Gain Visibility

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Maximize Efficiency

Gain Insights Increase ROI

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Is there any inventory missing?

How to ensure my inventory arrives at warehouse correctly?

Which are my non-performing inventory?

? Were my inventory delivered to store?

Are my inventory sufficient in store?

SHOP

!

Top 5 Inventory Issues

1 2

3 4

5

How to ensure my inventory arrives at warehouse correctly?

Which are my non-performing inventory? ?

Were my inventory delivered to store? Are my

inventory sufficient in store?

SOP

Rethinking Shrinkage By: Craig Webb

Is there any inventory missing?

1

CYCLE COUNTING

• Do cycle counting monthly for best-selling or most

valuable SKUs; bi-yearly for slow-moving items

• Enables you to keep steady track on how you're

doing and alerts you to problems sooner than an

annual check

Stock Check monthly or bi-yearly 1

How to ensure my inventory arrives at warehouse correctly?

Which are my non-performing inventory?

Were my inventory delivered to store?

SOP

! Are my inventory sufficient in store?

2

Tips

AVERAGE SOLD PER DAY vs QUANTITY ON

HAND

• Monitor Days of Inventory Report ensures that

you have everything on the shelves and

wouldn’t let you miss out any sales opportunity!

# Look at Days of Inventory every day 2

Which are my non-performing inventory?

Were my inventory delivered to store?

SOP

How to ensure my inventory arrives at warehouse correctly?

3

Tips

Stock In

Supplier Invoice

Payment

Purchase Order

3 ways matching

ENSURE RECEIVING QUANTITY

ARE MATCHED WITH PO QUANTITY

•

•

#3 Check ETA Date & Balance Quantity every day

1 2 3

3

Which are my non-performing inventory?

SHOP

Were my inventory delivered to store?

4

Tips

HEAD OFFICE AND FRONT-END STAFF CO-

ORDINATION

• Head office users should monitor Delivery Order In-

Transit everyday to make sure inventory arrived at

store with the right quantity

• If overdue more than a week, check delivery status

with front-end staff

#3 Monitor In-Transit Status every day 4

0

Which are my non-performing inventory?

5

Look at Stock Ageing Report every month

TIPS FOR HANDLING AGEING INVENTORY:

• Transfer to other stores

“Different item at different store will have different

performance”

• Further mark down, bundle promotion or clearance

5

Conclusion

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