Inventory Management: Handling Damaged Stock

Are you in the market for a new inventory management tool? Give Stockpile a try and then you'll be able to automate a lot of those pesky situations like returns. For example, let's say you are re-organizing a shelf and you 're-organize' a jar off the edge and onto the floor. Or maybe a sprinkler get set off and douses the whole magazine rack. Sometimes, your inventory is going to shrink for some reason other than sales. Some of these reasons include:

1. Accidental damage in the store or the stock room

2. Shipping damage

3. Theft!

Loss prevention is an important part of running any small business.  In addition to taking physical precautions to protect your goods, you'll want to keep an accurate count of what you are supposed to have at any time. A small business inventory system like Stockpile makes this easy.  By tracking your inventory online, you'll always have a clear picture of what you should have.

You will want to perform periodic inspections of your inventory and compare your counts with this information to capture any unexpected losses.

Hopefully, you won't find any. But, if you do, tracking damaged stock is simple. From the Remove Inventory screen, pick 'Damaged Stock' and enter the number of units:

This will reduce your inventory count and add to the Damaged Stock total on the Inventory Transaction Report. The amount shown there will be the total number of damaged units multiplied by the current Average Cost.

Sign up today and let Stockpile take the pain out of managing your inventory!

 

No Comments Yet.

Leave a comment