So, what exactly does an inventory counter do? Why should you consider hiring one?
If you’re a convenience store, you may wish to better manage your inventory, but aren’t sure what our services entail. We’d like to provide you with a snapshot of what we do when we begin an inventory project with you. This isn’t an exhaustive list, but it’ll give you a better picture of what we bring to the table.
Inventory Counter Basics
On the most basic level, an inventory counter . . . counts inventory. Of course, it’s actually a lot more sophisticated than that. It ultimately boils down to HOW you count a store’s inventory. Monarch uses very specific and systematic ways of gathering information so that we get the best possible data.
What happens if you don’t do this? Well, you can expect to have lots of inaccuracies, double-counting of items, and missing items. For this reason, we stick to a very strict and consistent methodology for performing our counts.
Identifying Problems in Your Store
The reality of running a business with a high volume of products is that it is easy to miss small errors. In addition to counting the inventory as it is, we also work to identify discrepancies and bring them to the leadership’s attention. We may find errors with labeling, organization, or systematic problems. When we work with new stores, there may be a higher rate of these errors but even established retailers add merchandise and make changes to their system regularly opening the door for mistakes. A consistent inventory will ensure that if those mistakes are made they aren’t there for long.
For example, we recently did an inventory count where we came across a small bag of beef jerky that was ringing up for $102. We assume that price mishaps like this either don’t happen or get caught right away. The reality is that with so much going on day to day, it’s an easy thing to overlook. Fortunately, a consistent inventory will help you find these mistakes. We will bring them to the store’s attention which allows management to address them quickly.
In the bigger picture, bringing in an inventory service helps to improve the accuracy of your data systems. If the data that is stored in the system isn’t up to date or doesn’t match what is physically in your space, the instances of problems will increase. Making the investment in inventory services will pay off in the long run.
Inventory Counter Goal: Make You More Efficient
We routinely find that the stores that manage their inventory well are more organized than those that don’t. This helps our counts proceed quicker and smoother. If your store isn’t quite there yet, we can offer insights into how you can reach that goal. There’s no doubt that an organization plays an enormous role in managing inventory.
All of our suggestions follow the industry’s best practices for inventory management. This always comes with the aim of making you a more efficient store manager or owner. Having lots of cluttered and confusing inventory won’t help your efficiency, and you’ll spend way too much time addressing problems. Monarch likes to settle inventory difficulties so that you can have more time to be a better leader.
Monarch: Helping You Gain Control of Your Inventory
As you can see, it pays to streamline and organize your inventory as much as possible. This even has important implications if you decide to sell your business somewhere down the line. It doesn’t matter if you want to eliminate headaches and confusion, prevent lost merchandise, or are ready to sell the whole thing; Monarch can assist you.
You don’t have to believe us either. We invite you to check out our website and read through some of the beaming testimonials we get from satisfied clients. These are business owners, just like you, operating convenience stores, liquor stores, and warehouses.
Now that you know more about the important functions of an inventory counter, feel free to call us at any time to discover all the ways we can help you achieve your inventory goals.