Efficient stocktaking made easy: best practices and typical mistakes to avoid

Stocktaking is more than just a legal obligation - it is a key process for creating clarity about your own inventories. It helps you to maintain an overview, identify weaknesses in the warehouse process and introduce targeted improvements. Nevertheless, it is seen as a necessary evil in many companies: staff are tied up, processes are disrupted and errors can creep in. But stocktaking doesn't have to lead to a standstill - with the right preparation, modern tools and clear strategies, you can make the process lean and efficient.

Why is stocktaking important?

Although it is often unpopular, stocktaking provides valuable insights: Is there shrinkage that can be attributed to theft or errors? Are slow-moving items tying up valuable storage space and therefore even capital? Do target and actual stock levels not match? These questions can only be answered by counting. Proper stocktaking is also a basic prerequisite for correct bookkeeping and reconciliation with the tax office.

A well-conducted stocktake not only helps you to avoid errors, but also to manage your warehouse more efficiently. But how can you carry out a stocktake without chaos and wasting time?

 

Plan and carry out an efficient stocktake

The beginning: planning is everything

The success of a stocktake stands and falls with preparation. Instead of just getting started, you should answer the following questions in good time:

• When will the stocktake take place?

• Who is responsible for it? Are there team members who will be counters, inspectors or data administrators?

• Which areas of the warehouse will be recorded?

• How should the data be documented?

The modern solution: With a digital stocktaking app like TYRIOS, you can save yourself the chaos of countless paper lists. Your employees can record stock levels on their mobile devices, while the data is automatically transferred to the ERP system. This keeps you up to date at all times and avoids counting errors. You can find out more in the TYRIOS Knowledge Base: Taking stock.

Stocktaking during ongoing operations

A stocktake does not necessarily mean a standstill. Whereas warehouses used to have to be closed, modern solutions allow counts to be carried out during ongoing operations. If you have an ERP solution with real-time inventory, counting is essentially limited to comparing target and actual stock levels. This makes stocktaking efficient and simple.

With a mobile app such as TYRIOS inventory(Apple, Google), employees can record items directly on the sales floor or in the warehouse while the normal process continues. A great advantage, especially in times of high turnover.

Split inventory: equalise the pressure

Did you know that you can split the stocktake over time? As long as each stock item is counted once a year, there is no legal requirement that everything has to be done in one go. A split inventory, also known as a perpetual inventory, takes a lot of pressure off your team:

• Step-by-step counting: divide the warehouse into areas and count them over several weeks or months.

• Less pressure at the end of the year: Instead of one big tour de force at the end of the year, you can spread counts throughout the year.

Splitting up the counts brings considerable advantages, especially for companies with large inventories or multiple locations. This not only reduces time pressure, but also ensures fewer errors. You can do this systematically with either separate warehouses or warehouse locations. You can find out more about this in our TYRIOS Knowledge Base, for example: Warehouse management in TYRIOS. If you maintain the warehouse automatically during the year, counting is reduced to a comparison of target and actual stock levels. You can find out more about this in the TYRIOS Knowledge Base: Automatically reduce stock quantities.

Recognising and dealing with stock shortages

Stock shortages are one of the biggest challenges of an inventory. It is important to document deviations transparently and accurately:

• Recordthe article number and description.

• Comparethe target stock (book value) with the actual stock.

• Clearly identify differences and note possible causes, e.g. shrinkage, incorrect bookings or damage.

This documentation is not only important for internal evaluation, but also serves as proof for the tax office. With the help of TYRIOS functions, stock shortages can be automatically reduced and neatly documented.

Dealing with slow-moving stock: restoring the realistic value of goods

A problem in many warehouses is slow-moving stock - products that remain unsold for a long time and tie up valuable resources. Instead of ignoring them, you should take targeted action:

• Identify items that have not been moved for months.

• Check the current market value of these products.

• Carry out a devaluation of goods to correctly reflect the realistic value in the accounts.

• Document the devaluation properly to avoid tax problems. For this purpose, TYRIOS offers you an Excel export in the inventory function, which can be easily supplemented accordingly.

By regularly updating the value of goods, your balance sheet remains lean and meaningful.

Best practices for successful stocktaking

There are a few best practices that you should definitely follow to ensure that your stocktake runs smoothly:

1. Sectional counts: Divide the warehouse into smaller sections and work through them step by step. This avoids chaos and double counting.

2. Cleanliness in the warehouse: A tidy warehouse makes work easier. Labelling, clear categorisation and the removal of defective goods save valuable time.

3. Use digital tools: Paper and pen are a thing of the past. Apps such as TYRIOS not only enable mobile recording and synchronisation in real time, but also simplify the entire inventory management process. Shortages can be directly identified, clearly logged and transparently displayed. The automatic reconciliation function allows you to recognise and correct differences immediately, which drastically reduces both the error rate and rework. And most importantly, stocktaking can be carried out during normal operations.

4. Take stock shortages seriously: Document every discrepancy accurately and analyse the causes to avoid errors in the future.

5. Test runs in advance: Carry out a short test run before the actual inventory. This will allow you to recognise weak points in the process and provide your team with targeted training.

Typical inventory errors and how to avoid them

Inventory errors are not only annoying, they can also be really expensive. Chaos usually creeps in when there is too little preparation or processes are not clearly defined.

Without well thought-out planning and a clear allocation of roles, stocktaking can quickly get out of hand. Imagine your team is counting diligently, but nobody knows exactly how to count. Do you count by piece, weight or volume? Such ambiguities cost time and cause errors.

Another problem is slow-moving stock - products that sit in the warehouse for months on end. Not only do they take up valuable space, they also tie up capital. If you simply ignore them, you will improve your stock levels, but the balance sheet will show a distorted picture. Instead, it makes sense to devalue slow-moving items realistically or sell them off selectively.

It is particularly risky if you rely on outdated methods such as paper lists. Manual errors quickly creep in here, which are difficult to trace later. Digital tools offer a clear advantage here: they record stocks in real time, synchronise data automatically and eliminate the classic sources of error.

And then there are the stock errors. Differences between target and actual stock levels must not only be recognised, but also corrected. Because every unexplained shortfall not only raises questions, but can also lead to problems in accounting and with the tax authorities.

In short, stocktaking requires preparation, clarity and the right tools. This ensures that it is not only correct, but also efficient.

Conclusion: A successful inventory with the right strategy

A stocktake doesn't have to be the nightmare of the year. With clear planning, a clean process and the right tools such as the TYRIOS stocktaking app, the process can be organised efficiently and stress-free. Stock shortages are systematically recognised, slow-moving items are reduced and the bookkeeping remains correct.

Use stocktaking as an opportunity: it brings transparency to the warehouse, optimises your stocks and ensures economic clarity. With a split inventory, you can spread the counts over the year, reduce pressure and ensure up-to-date stock levels at all times.

Curious now? With the TYRIOS stocktaking app, your next stocktake will be easier than ever. Try it out and make sure your stocktake is a success!