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5 Steps to Prepare for Your Year-End Inventory

November 13, 2012 Inventory Mark

Some of you have already finished your year-end inventory.  Most of you will do it sometime after the new year.  We’ve led and assisted with countless inventories.  From our experience, here are 5 steps to take now to be ready then.

 

  1. Pick a date and publicize it.  Let your customers and employees know your plans.  Mark the date on your team calendar.  Post the date on your website.  Get the word out to your email list, Facebook friends and Twitter followers.  And please, close for the day.  Having accurate inventory is of great value.  It’s worth the money you won’t take in the day you’re closed.  Doing it after hours or while you’re open will lead to mistakes.  You want your team fresh and paying attention to details.
  2. Pick and prep your team.  Speaking of your team, make sure you select the right people for the job.  Some are cut out for it and some aren’t.  You want detailed oriented people who won’t overlook mistakes.  Once you’ve picked your team, have them read our “Complete Guide to Inventory Counts“.  Better yet, send them to Inventory Fantasy Camp.  We have spots open at our Trek Stores of Madison camps on January 8-9 and 10-11.
  3. Prepare your MC1000 scanners.  If you use your MC1000’s throughout the year, they should be ready.  If you haven’t used them for a while, plug them in and make sure they’re ready to go.  If you need more scanners for your inventory day, contact our Ascend Support Team.  We have rental units available.
  4. Clear out your old stuff.  If you have old products in your store that you scanned last year, clear it out so you don’t have to count it again.  Use Ascend’s Aged Inventory Report to tell you what you need to get rid of.
  5. Make sure everything scans.  Hand out your MC1000’s and have your employees scan your bar code labels.  Replace any that don’t scan with new labels.

We also have checklists for one week, two days and one day before your inventory day.  Check them out on our Inventory Prep page.

Good luck and let us know if we can do anything to help!

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