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How to do a Successful Stock take or Physical Inventory counting?
Performing a stock take once in a month or quarter will avoid the mistakes in the inventory operation and get the correct idea of inventory stock level.
Inventory / stocktaking is a process of calculating the amount of stock you have (Eg. food, drink, etc.) and turning it into a report. Your report tells you the quantity of stock you have and lets you compare it against your previous inventories.
Using stocktaking apps like DSTME Stock taking app, can speed the process up and help you to increase gross profit, reduce loss and provide instant results.
Modern businesses are moving towards a inventory system, where stock is track with technology and information is always available in real time.
Time needed: 22 days, 11 hours and 16 minutes.
Steps for do Inventory Counting
Planning a day or a time for stock take is very crucial task. We need to use all resources, May it will take entire day or more than 1 day. For big warehouses and all it will take 2 or 3 days. It will be better to choose a time where less operations is going on or less delivery schedules.
Ensure your stock records are up to date in our Inventory system before the count starts and print them off so there is a physical copy.
If we are using a inventory software we can easily pull out the records. Dispose of all defective and obsolete inventories so that the time spent on this process is reduced
If it is a warehouse or big stores correctly label the Ailes and racks before the stock taking process. If it is in multiple location and area we need to check stock that has already been sold but is yet to be delivered or picked up by a customer in all areas.
Team should have better understand for stock taking process. A training should be needed for the non experienced staff. Correctly allocate the staff to each location for avoiding the duplicate counting.
Using handheld devices with stock taking apps will easier the job. Also avoid guess counting its very crucial to get accurate stock.
Generate the variance sheets with the help software’s and double check the variance. if there is multiple locations and branches check the variance with the internal inventory level. take a actions to improve the accuracy level
Finally you need to do the inventory adjustment. if you are using a software this will be easy process.
Even if you use the best technologies available to track and manage your inventory, it is sometimes still necessary to take physical counts to consolidate information and ensure that your numbers reflect reality.
Dstme sales CRM will help you capture leads and customers, acquire insights about your business. it helps to optimize your business, save your time and focus on your businesss
When every team is an island of their own, it becomes a massive bottleneck for any organization to grow. Real-time customer information cannot be shared across teams which in turn affects the way you serve your customer needs.
Radio frequency identification (RFID) is a form of wireless communication that uses radio waves to identify and track objects. RFID takes the barcoding concept and digitizes it for the modern world providing the ability to
RFID belongs to a group of technologies referred to as Automatic Identification and Data Capture (AIDC). AIDC methods automatically identify objects, collect data about them, and enter those data directly into computer systems with little or no human intervention. RFID methods utilize radio waves to accomplish this. At a simple level, RFID systems consist of three components: an RFID tag or smart label, an RFID reader, and an antenna. RFID tags contain an integrated circuit and an antenna, which are used to transmit data to the RFID reader (also called an interrogator). The reader then converts the radio waves to a more usable form of data. Information collected from the tags is then transferred through a communications interface to a host computer system, where the data can be stored in a database and analyzed at a later time.
As stated above, an RFID tag consists of an integrated circuit and an antenna. The tag is also composed of a protective material that holds the pieces together and shields them from various environmental conditions. The protective material depends on the application. For example, employee ID badges containing RFID tags are typically made from durable plastic, and the tag is embedded between the layers of plastic. RFID tags come in a variety of shapes and sizes and are either passive or active. Passive tags are the most widely used, as they are smaller and less expensive to implement. Passive tags must be “powered up” by the RFID reader before they can transmit data. Unlike passive tags, active RFID tags have an onboard power supply (e.g., a battery), thereby enabling them to transmit data at all times. For a more detailed discussion, refer to this article: Passive RFID Tags vs. Active RFID Tags.
Smart labels differ from RFID tags in that they incorporate both RFID and barcode technologies. They’re made of an adhesive label embedded with an RFID tag inlay, and they may also feature a barcode and/or other printed information. Smart labels can be encoded and printed on-demand using desktop label printers, whereas programming RFID tags are more time consuming and requires more advanced equipment.
Radio Frequency Identification) is used to identify and detect individual objects, including products and items. The technology is controlled by radio waves that communicate between a tag on the product and the reader.
For retailers, RFID technology for inventory management has a number of advantages:
Managing and locating important assets is a key challenge for almost any business. Time spent searching for critical equipment can lead to expensive delays or down time, missed deadlines and customer commitments, and wasted labor.
Companies have traditionally addressed this problem by managing assets using serial numbers and spreadsheets, or tracking equipment with barcode labels. However, both of these methods require a significant amount of manual labor. One way to quickly improve asset management is by utilizing radio frequency identification (RFID) technology to automatically track those assets.
An RFID asset tracking system uses electromagnetic fields to transmit data from an RFID tag to a reader. Whether you are talking about office equipment in a multi-story building, wheelchairs and IV pumps in a large hospital, tools and equipment in a factory, or pumping equipment in far-flung oil fields, RFID can provide accurate, real-time tracking data for fixed and mobile assets.
The typical RFID-based controlled access solution consists of 1) tags that contain unique identification data capable of granting or denying access to restricted areas, and 2) a mechanism for reading the RFID tags at the access control points. RFID tags can be placed on objects, or they may be embedded into paper or plastic ID cards. They can even be embedded under human skin, but this is highly controversial. When the tags are read at the access control points, their data are validated against a database in a centrally controlled security system, and access is either granted or denied.
Not only is the central security system capable of using identifying information to control access, it can be integrated with other applications as part of a comprehensive security solution. For example, the RFID security system can be configured to automatically log the number of access attempts per ID and trigger security cameras after a threshold has been reached. If a person tries to access an area to which he or she does not have permission, the system detects this and can both initiate video surveillance and send alerts to security or other authoritative personnel. Even when an individual does have permission to access the area, video recordings can still be initiated to monitor the person’s activities while inside of the restricted area.
In addition to the security benefits of controlling access with RFID, such an application has economical benefits as well. Relative to other RFID applications, the access control application is well understood, and system components like tags and hardware are widely available. Prices of tags and equipment are falling, too, which is encouraging to organizations needing to upgrade their security systems.
Despite the advantages of controlling access to facilities with RFID, there are a couple of disadvantages that ought to be considered when implementing such a system. The first is that the system can be bypassed if an unauthorized person “tailgates” an authorized person through an access point. It should be noted, however, that this is also a shortcoming of the traditional access control systems mentioned earlier. A second disadvantage is that the system can be defeated: RFID tags can be cloned with readily available equipment. Anyone with an RFID reader can “skim” the data from a tag of interest and make a new ID badge with the desired access permissions. Note that this type of identity theft does not require the target badge to be physically stolen from its rightful owner. If the badge is in fact stolen, and the victim is aware of it, the tag — and therefore all clones of the tag — can be deactivated. Because of these caveats, it is recommended that any RFID access control system be complemented by an integrated video surveillance system to minimize tailgating, theft, and other undesirable activities.
Supply chain management and logistics are considered as the most fertile field as far as the applications of RFID is concerned.
RFID in the supply chain plays a major role in enhancing the visibility right from the point of manufacturing, via supply chain, and most significantly from the back room to the floor, and ultimately to the exit door.
RFID has a major say when it comes to inventory management, warehouse management, and retail sector. Let’s see in detail about them all.
Its about the central process require to run a business.finance, HR, manufacturing, supply chain, services, procurement, and others. At its primary level, ERP which integrates all this activities to a solitary system(one system).But new ERP are anything but basic.they adopt the newest technologies. such as machine learning and AI – to provide intelligence, visibility, and efficiency across every aspect of a business.
See how new ERP uses digital assistants to help you focus on what matters, artificial intelligence (AI) and machine learning to automate processes, and predictive analytics to support real-time decision making
The purpose of an ERP system is to improve efficiency (and thereby profitability) through improving how company resources are spent, whether those resources be time, money, staff or something else.If you can reduce how many resources are being used, without sacrificing quality/performance, then you can grow your business more efficiently and appropriately.
ERP software combines a number of different reports and metrics across various departments into the same environment.This makes it easier to get a full view of what’s going on and how resources are being spent.From this vantage point of the business, you can discover key insights into how processes might be improved or resources better spent to generate higher growth.Without an ERP system and proper planning of how resources should be spent to maximize growth and the bottom line, it is much easier to invest resources in tactics that under perform.
Conversely, a great ERP software platform allows a business to allocate resources away from under performing tactics and into those that are generating good returns.An ERP system also makes it faster to find the information or report you’re after because everything is in the same place.You don’t have to search through spreadsheets or look through different business applications to find that kernel of data you need; it’s all available and accessible right from the ERP interface.
If your business growth has become stagnant or you feel that your resources aren’t being used as efficiently as they could be, an ERP system may be the best solution.
You’ll have a better grasp on how your company is performing because this software combines a number of different processes into one system. This saves you a lot of time and a great many headaches because you don’t have to gather reports from each operation separately. You’ll quickly see overhead costs drop and your bottom line grow. DSTME has been working since 2006. we provide the best ERP in Dubai,abudhabi and middle.
Founded in Parma, Italy in 1992 by Carlo Stradi and Alberto Campanini, every year Custom reinvests in technology, innovation and resources so it is always one step ahead of the market’s needs.
The goal of continuing investments in technology, human resources and ongoing research is to offer integrated solutions and value-added services to meet our partners’ needs, while also supporting them with multi-industry solutions. The Custom Group’s technology allows current and future challenges to be met in the best possible way, not just through a product that partially meets a need, but with truly dedicated solutions, created while also taking latent requirements into consideration.
An approach that requires internal planning and management of all actions required for the creation, distribution and installation of solutions.
Air traffic is on the up, and so are passenger numbers. As a result, airport facilities need to make the most of all potential services in order to improve passenger experiences. Custom’s complete solutions for the aviation industry simplify all printing and control processes in airports, especially when it comes to printing boarding cards, luggage labels and plane tickets. Custom has engineered multi-bin compact printing solutions for both check-in desks and self-service ticketing with eye-catching and stylish designs, meeting all primary airport needs.
Custom is recognized on the international scene for setting the benchmark in the design and creation of retail solutions, providing automated and innovative services to the public. Growth in terms of numbers, but above all in its offer. A continually evolving approach towards the customer, that begins with listening to the market, allowing for the identification of integrated solutions to offer the customer a complete combination of hardware, software and services. Custom offers complete solutions for the Retail sector that guarantees speed at the point of sale, optimization of omni-channel capabilities and increased productivity thanks to the many configurations of the PC POS terminals, to the innovative printing solutions for receipts, to the range of complementary products or accessories for the point of sale and to the vertical applications that characterize the Custom’s proposal differentiated and customizable for all sectors. The attention to design, the search for advanced but easy-to-use technologies and the worldwide support are the requirements that Custom offers to satisfy the most demanding needs of Retailers.
Security is a fundamental characteristic for ATMs and cash machines. Custom designs reliable cutting-edge technology for all self-service printing needs, providing complete, top-performance solutions. Innovative software and compact print solutions, including magnetic card reader writers and chip cards (manual and motorized), complete with vandal-proof and anti-pollution full shutters. Thanks to our impeccable customer support services, Custom is able to provide efficient and tailored solutions for the ATM/cash machine sector
Demands on transport and logistics companies have become increasingly inflexible and often involve complex management issues, in which time and efficiency are key factors. Custom’s logistics solutions simplify all label-printing and barcode scanning processes, with the support of tailored cutting-edge software. Custom offers a wide range of process-monitoring solutions in order to reduce waiting times and increase working capacity, while guaranteeing a high level of security, safety, efficiency and productivity in loading and unloading areas
We live in a world where the concept of self-service is becoming increasingly popular, allowing customers to use services independently and save time. Custom’s hardware, software and service solutions are ideal for self-payment kiosks: from vending machines to public and private healthcare facilities, the banking sector, and public administration. Custom provides kiosk printers, self-service printers, cash machine printers, ticket dispensers and OEM scanners. Custom’s quick and reliable solutions for the self-payment & kiosk info sectors have been designed for people looking for the very latest technology in high-quality printing.
Consumers frequently need to print tickets on a daily basis, whether they’re spending their free time with friends at an event, at the movies, at the theatre or at a concert. Custom offers full ticketing solutions, featuring quick printing and compact designs, with printers for ticketing counters, self-service ticketing counters, and events. Equipped with next-generation RFID technology – both HF for short distances and UHF for longer distances – Custom’s ticket printing solutions satisfy all primary customer needs. Custom’s ticketing solutions come with a range of accessories and additional features that complement its product range.
