4 Management Challenges All Grocery Store Owners Should Be Aware
When running a grocery store, the grocery inventory management makes or breaks your cash flow. Regardless of your business’ size, a grocery store is known to have high turnover rates and low margins. Added to the fact that the retail industry is extremely saturated these days, it will not be an exaggeration if we say every transaction counts.
Having an independent team handle the inventory stock take helps to eliminate errors in stock control. Advanced Stocktaking offers quality stocktaking services using the latest technology in barcode stocktaking. Our trained stocktakers have undergone accredited training and have years of experience performing a stocktake in various industries of all sizes, ensuring absolute accuracy and efficiency in your grocery inventory management.
But why do groceries need stocktaking services? To answer this question, let’s go through the top four management challenges supermarkets and grocery stores face.
1. Having a tonne of products to manage
A supermarket generally stocks hundreds of different items. The grocery inventory management becomes more complicated when there are multiple departments to account for their stock levels. Even if you run a small grocery store, you will still have various kinds of items to take care of.
You can easily solve this issue by using a barcode scanner to keep track of your products. Our team of independent stocktakers can perform stock control with optimal precision using the latest barcode technology. We will do what is needed to be done stocktaking-wise so you and your team can focus on running the business.
2. Multiple transactions happening at different times
When you need to provide more than one counter to handle transactions, stock discrepancies can easily happen. This issue is particularly pronounced when you run a multi-chain business.
Mitigate this problem by having Advanced Stocktaking carry out your inventory stock take process. As part of our retail stocktaking services, we will integrate all of your inventory information in our cloud-based system. You can save time by not having to travel to different warehouses for stock control.
3. Outdated stock levels
Working with a non-integrated inventory management system is one of the most common reasons for stock discrepancies. As the system cannot keep up with store purchases, the risk of stockouts becomes inevitable. A buffer inventory can be a risky business decision, as you risk losing profits if you make incorrect predictions on the market’s trends.
With our cloud-based inventory management system, you can work with real-time and accurate data at all times. Make sound business decisions based on the current stock levels – no more guessing in the dark.
4. Cash flow problems
Not being able to keep track of your profit and loss figures can negatively affect your cash flow, particularly. When working in an industry with high turnover rates and low margins, you simply cannot afford making this mistake.
Using our system to monitor stock levels, you get a better insight into day-to-day sales and dead stock. Any bottleneck in the inventory management system can be addressed promptly to minimise loss.