For those of you who have a retail business, be sure to do regular stock Opname and record it neatly.
That way, you can make sure the warehouse stock is appropriate and also in saleable condition.
To find out in detail what benefits you can get from this activity, please refer to the following review.
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Meaning of stock Opname
Stock Opname can be interpreted as the activity of calculating the stock of goods in the warehouse before being marketed or sold.
This activity must be carried out carefully and carefully. So that there are no recording errors and also calculations due to missing items.
This activity is indeed quite time-consuming and labor-intensive if done manually. Especially if the product inventory in the warehouse is many and varied.
However, along with technological developments, retail entrepreneurs have begun to apply barcodes to each of their products and use inventory applications to manage them.
That way, counting and recording errors can be minimized. The stock taking process can also run faster and more effectively.
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What is the Importance of Stock Opname to Do?
This activity is important to do, to ensure the suitability of the amount of stock in the warehouse software used for bookkeeping with the stock of goods in the warehouse.
If there is excess stock in the warehouse, it will usually be re-checked.
This could have happened due to an error in the inventory recording method at the warehouse or transactions that had not been recorded and were missed.
Meanwhile, when a shortage of goods is found in the warehouse stock, an adjusting journal is usually made for the shortage of goods.
However, there are also companies that enforce policies, by imposing these deficiencies on those who carry out stock taking.
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Purpose of Conducting Stock Opname
Stock taking is carried out for various purposes. Some of the objectives of the stock taking are:
- Ensuring that the records in the company’s books are correct. That way it can function as an SPI (Internal Control System).
- Minimizing the difference between the data on the bookkeeping in the actual stock book in the warehouse.
- Knowing the amount of assets, debts, receivables and cash of the company.
Not all companies carry out this activity to check the stock of goods in the warehouse and also the company’s cash.
Like a manufacturing company, for example, they do this to check the inventory of production raw materials, auxiliary materials, semi-finished and finished goods.
Who does the stock taking? Usually, audit officers who are not part of the inventory control team carry out this activity.
This is done to ensure the accuracy of the resulting data.
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Stock Opname Implementation Period
Generally, stock taking is carried out at the end of the year, every three months, every six months, or it could also be the end of the month depending on the policies of each company.
Adjustments to the implementation period can be based on the needs or goals and also the ability of the company itself to implement them.
There are several companies that routinely carry out this activity at the beginning of the month. This is done so that the risk of discrepancies can be avoided.
Even if there is a discrepancy, with stock taking the discrepancy can be found immediately and what causes it is sought.
Some even do it on a daily basis. Usually done in stores that sell fast moving goods with a short life cycle .
Generally the product in question is food and also drinks.
Not infrequently companies also carry out this inventory checking on the grounds that there are certain events or unexpected events.
Like when sales traffic spiked sharply due to Eid promos, New Year’s promos
It could also be when a force majeure occurs , so stock verification must be held in this case.
Even though it has to go through a fairly long and complicated process, it is important for business actors to do this.
So that businesses have neat, detailed and valid records and financial reports. Because it will affect the development of the business in the future.
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Various Benefits of Holding a Stock Opname
Don’t be lazy to do stock taking on your business. There are many benefits that you can get from this activity, some of which are:
- Avoiding deviations or misuse of goods which results in excess or shortage of stock.
- Can quickly identify missing or lack of stock of goods, so that a solution can be immediately found to prevent inventory shortages.
- It can be used as evaluation material as well as a benchmark for business development from previous years to the present, along with future plans.
- Facilitate the process of monitoring and managing the flow of incoming and outgoing goods with data that can be accounted for.
- Make it easier to monitor the condition of inventory items in the warehouse so that they are always in a salable condition and not until there is a vacancy.
Steps to Implement Stock Opname
In the process, there are several steps that you must do so that the inventory checking process or stock record runs as it should.
What are the steps or stages? Here is the full explanation.
1. Initial Stage/Step
You must do this step at least one week before the implementation. Communication with the warehouse inventory team should also be improved.
Some important things that need to be prepared at this stage include:
- Provide labels or marks on items that have been counted and carried out by the warehouse team.
Arrangement of stock items according to the code or barcode listed. - Ensuring that all stocks are equipped with codes, signs or barcodes to facilitate calculation.
- Provide uncounted labels on items that do not need to be counted and carried out by the warehouse.
2. Preparatory Stages/Steps
This stage is generally carried out when the stock taking process is less than one day. The preparations that must be made include:
- Hold a briefing which is attended by all parties involved in the stock recording process. Make sure they understand what their duties and responsibilities are.
- Completing the input of goods mutation data until operational closing hours by the warehouse team.
- Ensure that there is no input process for goods mutations after the H-1 closing hours ahead of inventory checking.
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3. Stages/Steps of Implementation
In practice, here are important things that you must do.
- Ensure that all transactions have been inputted into each program
- Make a print out of the input results, then give it to the accounting and audit as a reference for stock records. Warehouse parties or teams may not receive a print out of this program
- The stock recording process can be done, don’t forget to mark items that have gone through the process of checking and counting.
- All print out sheets that are fully filled with the results of the stock record are immediately inputted in order to find out the difference with the program version.
- Re-check to identify any calculation errors or discrepancies
- After all the processes are carried out, the results of the stock record are given to the accounting party to then make adjustments to the inventory into the program.
Those are detailed explanations regarding stock taking that you need to understand, especially if you are a business actor.
Make sure not to miss this process in your business, so that financial flows as well as supplies can be managed properly and orderly.
That way, it will be easier to advance and develop your business