Tips for an End of Year Physical Inventory Success

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Dear Retail Friends, Customers and Prospects,

It’s time to start preparation for your physical inventory. I know I know, enough already, we just finished stocking for the holiday season and now you want me to start thinking about the most dreadful chore of the year?

The key to making this process less of a chore and a successful project is preparation.

  1. Have all of your tools ready and tested, ensure your inventory scanners are in working order.
  2. Create your maps of what needs to be counted.
  3. Clean your stockroom/warehouse and office, since everything with a price tag should be out on the sales floor for the holiday shoppers. Now is the time to clean house of all of those leftover items. There comes a point during the holiday season when last minute shoppers will buy anything! If you place it on display, they will buy and if they don’t, they can make a donation to your favorite charity as a yearend write off. The less you have on hand the less you have to count.
  4. Review your notes from last inventory:
    • Did you have enough staff on hand, line people up now so they know what to expect?
    • Do you have enough scanners; if you need to buy scanners get your order in today to ensure they are available for your Physical Inventory?
    • Instructions, do I have my notes on how to perform a physical or do I need additional training? If additional training is needed schedule it right away.

We are here to help you everyday of the year, even through the holidays including your big Physical Inventory day.

Happy planning,

Peter Pishko

Director of Quality, One Step Retail Solutions

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