|Most retail business owners are uncertain about the value of their inventory in hand and the true health of their inventory. This is due to the time and effort it takes for a stock take. Pilferage due to theft, damage and breakage is a significant percentage of a retailers gross margin and hence a critical metric for a retailer to measure and improve. The deployment of right tool to measure the health of inventory on a continuous basis is very critical for the success of a retail business. The RayMedi mStockTake is useful in all formats of retail environment to measure and manage inventory effectively.|
The RayMedi mStockTake automates the physical stock taking process using a PDT / mobile device. The application allows stock taking by scanning every item of high value inventory and uploading this information to compare against system stock to generate a discrepancy report. The application can also be used for cycle counting of specific SKUs / category of SKUs each day in a large format, large number of SKU environment.
Usage of RayMedi mStockTake helps in improving the quality of physical stock audit with lower man power resulting in accurate measure of physical inventory and pilferage. This can lead to implementing corrective measures to improve order-delivery accuracy and lower the loss due to pilferage.
- Works with RayMedi POS software store server : Online & Offline mode.
- In offline mode data is stored in the mobile device / PDT. After completing stock taking, the PDT device can be connected to RayMedi store server to compare and show discrepencies between physically counted and system stock When online it is directly connected to store server database for saving the updates.
- Stock audit list can also be downloaded to the mobile, so that verification is done for the selected item. The physical inventory list is generated in the POS and downloaded by Wi-fi or USB interface to the mobile.
- Stock audit can be done without the physical inventory list [where whatever product stock is checked they are scanned / selected and current stock entered].
- Every inventory item physical stock is recorded in terms of batch number, expiry / packed date, selling price, serial number(s), brand/size like inventory variant etc.
- It improves the quality of the physical stocktaking as there are more frequent physical counting.
- Analysis of stock mismatch / pilferate helps in improving the delivery accuracy, more ownership of the staff for the inventory and fixing the ownership for the pilferage establishing an environment of accountability in retail.
- Maintain a higher work standards as the store personnel know that they need to count the stock more frequently.
- Unauthorized changes in procedures are detected and delivery hold-ups, a common issue in order fulfillment is eliminated.
- In high value retail,the high value item stock can be taken each day with less effort [like jewellery, mobile showroom etc.]
- It allows stock discrepancies to be more fully investigated and corrective actions to improve the processes and practices can be established.
- Measuring shrinkage and establishing goals for the same help in continuous improvement to lower the shrinkage to improve profitability.
- Help to identify discrepancy between system and physical stock even in terms of batch, serial number, variant, price etc.., to measure the invoice/delivery discrepancy and correct the same. As the system maintains one version of truth, the faith on the system increases and work gets more and more systematic and efficient.
- RayMedi mStockTake can be deployed on any Windows CE mobile device or PDT device. The same application can be ported to other languages depending on the Mobile device chosen by the Customer for deployment.
- RayMedi mStockTake Application helps to Improve efficiency,accuracy and Reduce data entry errors in physical stock intake.
For further information call us on 040-65248220 or email us on email@example.com