We see a number of business owners who carry a high value of stock in their business but have no idea how much it cost them, what they have in stock or how long it’s been there. Stock management can have a big impact on the profitability of your business and so we have asked the team at Abacus Valuers to share some of their advice when it comes to stock taking.
Why should you stocktake?
If your business carries stock of any type whatsoever, there are a number of advantages to having an effective and robust stocktaking system in place.
Stocktaking should never just be about the numbers, important though that is; it will give you the information you need to drive your business forward, no matter if it’s through a better understanding of buying trends, identifying causes of stock loss or reducing stock levels to free up cash flow.
For example, understanding where stock is being lost in your processes, whether it is as a result of shoplifting in the retail sector or poor distribution channels, will allow you to improve your overall profitability. A properly run stocktake can also play a key role in identifying buying trends and ensuring that you’re always one step ahead in meeting them.
If you sell a product that is perishable or is constrained by a sell-by date for some other reason, then it’s vital that you understand your current stock levels, as anything that passes that date will be written off and weigh heavy on your profit margins. An effective and well-run stocktake can ensure that the levels of stock are kept at a level at which you can continue to meet demand, but also reduce wastage in the end product or the supply chain.
What is the benefit of using professional stocktakers?
At Abacus Valuers, with over thirty years practical experience, we understand the vital importance of these issues for businesses of all sizes and the role that accurate and efficient stocktaking can play in business success and profitability. We will provide you with the peace of mind that comes from a well run, professional and cost-effective stocktake. And we will do so in a way that involves no disruption to the day to day running of your business and allows you and your staff to continue to operate as normal.
Providing a quality service for our clients is the reason that so many continue to work with us for years and sometimes even decades! As an example, here is a quote from just one of our small business clients:
“I have over 35 years experience of running my own business and have used the services of Abacus Valuers for over 15 years with huge success. They have built an excellent reputation over the years based on accuracy and trust. The benefits of a well-run stocktake are endless and I can certainly recommend Abacus Valuers to other businesses who require a professional job to enhance their business performance.”
To find out more about the benefits of an Abacus Valuers stocktake and how we can help your business, as well as reading the comments from some of our other clients, please visit our website at www.abacusvaluers.co.uk
Alternatively, to get a free quote for your next stocktake, simply ring our Head Office on 01637 874609 or you can fill in the enquiry form on our website (www.abacusvaluers.co.uk/contact) and we will then get back to you.