Stock is Money. A Business to ensure that the physical stock levels and the system stocks are correct at all times. Stock discrepancies happen because of various reasons. Pilferage is one of them. It is a good practice to conduct a stock verification at least one a year.
Majority of the companies skip stock taking because of the complexity involved in conducting a stock verification. The process involved is complex and tedious. Retailers are forced to complete stock taking overnight because they do not want to close showroom for stock verification.
Best' for Book Trade addresses these problems. Physical stocks can be entered into multiple systems simultaneously. Alternatively, Data Capturing Units (a remote hand held device) can be used to count stocks and the data then transferred to the system. This is faster and easier process. Once all the stocks are entered, the system consolidates and then does a stock compare and generates a Discrepancy report. Once the Management approves this, the necessary stock adjustments (increase or decrease) is carried out automatically by the system.
For Retailers, this module provides a very novel way for stock verification. The stock verification of a particular section of the showroom can be done across multiple nights. Once the stock verification is complete, the system re-calculates the stock as of the stock verification date, compares physical stock with system stock and generates the Discrepancy report. This is process helps showrooms to do stock taking at frequent intervals to ensure that the stocks are correct at all times.