How to Prepare for a Stocktake

The benefit of preparing for a stocktake is an accurate stocktake. Accurate stocktaking in a retail store is essential for efficient operations, reducing costs, and enhancing customer satisfaction. It ensures that recorded stock levels align with actual inventory, preventing overstocking, understocking, and stockouts (out-of-stock).

This helps with buying, restocking, and pricing decisions, which boosts sales, reduces costs and keeps customers happy. How can we achieve accuracy in a stocktake? Achieving accuracy in a stocktake—especially in a retail grocery store—boils down to planning and preparation. Once the retailer has a confirmed date for the stocktake – the management team should begin plans to reduce stock levels and organise the store effectively.
Well organised stock is likely to be more easily and accurately counted than poorly arranged and untidy stock. So, rather than viewing stocktaking as a necessary burden, consider it a valuable opportunity to improve your stock control and enhance the profitability of your business.

“By failing to prepare, you are preparing to fail.” – Benjamin Franklin 

1. Pick a date that works

• Avoid large delivery days and choose quieter days if possible, don’t pick a date to suit your accountant, pick a date that suits the stocktake.

2. Organize and tidy the Shop floor & Stockroom

• On the shop floor, tidy the shelves (especially the back of shelves) Clear clutter and ensure all products are in their correct locations • Label shelves and bins clearly with the correct barcodes or PLUs • Arrange and organise the storeroom and make sure all stock is accessible, and tidy.

3. Reduce stock levels

• As the stocktake draws near, run down your stock. No need to open new box of demi-baguettes in the freezer if there is one already open. • Separate and clearly mark damaged, returned, or obsolete stock

4. Prepare all inventory

• Ensure that all products are scanning at your till. For non barcoded items like fruit & veg, solid fuel, assign Product Look Ups (PLUs) to these items and have them ready for the stocktakers. • Ensure all cost and retail prices of all inventory is entered into your EPOS System, we encounter many NODATAS ( no cost prices or barcodes recognised when processing reports)

5. Communicate with Your Staff

• Inform all team members of the stocktake date and their roles. • Reduce staff on the day/morning of the stocktake as restocking of shelves and transfer of stock between shop floor and storeroom is prohibited while stocktake is ongoing.

6. Minimize Movement During the Count

• Pause stock deliveries, transfers, or sales (if possible) during the count

7. Export your Product file (For Non Centra/Supervalu stores)

• Export your product file to your stocktake provider who will perform the stocktake.

8. Secure High-Value Items

◦ Ensure high-value products are seperated and arranged in the correct manner behind the counter for accuracy. In short, preparation saves time, prevents errors, and ensures the count reflects true stock levels, which is critical for financial accuracy, replenishment planning, and shrinkage control. By preparing thoroughly, you reduce the chance of discrepancies and help ensure that the independent stocktake provides valuable, trustworthy insights into your business’s performance.