14 feature

Smart stock management

13 Aug 2014 by Brenda Perham

Are you taking a deep breath every time you open your suppliers invoices? Scratching around to find the funds to pay your bills on time?

Let’s be honest the business landscape has changed and the cash flow we may have had 5 to 10 years ago isn’t always there any more! We now need to turn on our “business brains” and focus on the areas within our business that we could manage better. Stock is generally a big chunk of our overheads each month, especially if you are a salon owner. What with stock wastage, under charging and over ordering suddenly your profit can slip between your fingers. Here are a few steps you can take to streamline your stock ordering and manage your spend.

  1. Create a clear and concise process around stock usage and pricing. It’s your clients that pay for the product not you. Extra product usage always needs to be surcharged.
  2. Monitor stock wastage and make sure you always check out your internal stock (stock that has been used on clients).
  3. Ensure all your products have the correct pricing and when you create a new product ensure you assign it to the appropriate brand category.
  4. Create your orders in Kitomba. This will allow you to work within a budget and stick to it. You will know your order value when you create it, so no more nasty surprises when you open up your invoice!
  5. Just a reminder that you don’t need to have your stock levels set up to create an order. Just use the “Amount sold/stock used” function. This means that you can input the date of your last order and it will automatically order what you have used in that time frame (don’t forget to scan off your internal stock first though!).

Visit our support guide for help getting started with Kitomba’s stock management.

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