SayPro 17 June, 2022 1210

An effective storeperson must account for how much stock is in the warehouse or storage area in relation to predetermined stock levels set by management. Warehouse efficiency is important because overstocked warehouses are a drain on a business’s finances and this money could be otherwise invested in a more productive way.Having too little stock on hand is also inefficient. This may result in a ‘stock out’ situation, where customers can’t get what they want, when they want it. A good storeperson must strike a balance between too much and not enough to achieve the right stock levels. Sometimes this is tricky.There are three key areas to be aware of when monitoring and maintaining stock:

• Ensure stock counts are accurate.
• Account for all returned or damaged stock.
• Make sure records represent the actual stock count.

Monitoring stock The methods for monitoring stock vary depending on the business. Some businesses have manual systems. Many businesses have computerised systems, where stock levels are automated, and reorder points are triggered should stock levels fall below predetermined quantities. Store staff must then ensure reordering occurs. Depending on the business, the stock controller may monitor stock levels on a daily, weekly, monthly or quarterly basis. This may vary depend on an item’s perceived value in terms of customer demand.Stock reportA stock report may be generated by a computerised stock monitoring system that summarises low quantity items that need to be reordered. This report may be automatically generated (as shown). Or it may be part of your responsibility to manually generate this information.Prescribed stock levels Each workplace has different prescribed stock levels depending on:

• existing stock levels
• anticipated sales within a particular time period
• historic data such as a stock item’s previous turnover figures
• Management and marketing decisions.

Stock movement Stock movement must be accurately recorded. As a storeperson, you must familiarise yourself with the warehouse or storage areas so you understand the site layout. This will help you find and store stock in the right locations. There should also be set areas for damaged stock and returns. These items must be accounted for when counting stock.Stock storage and movement records must accurately reflect the physical stock level. Identifying and reporting fast- and slow-moving items facilitates the process of monitoring stock performance. For example, if a particular brand of laptop is selling or moving out of stores faster than another, then this item may be considered a high-performance item and management may wish to increase stock levels or make a decision about maintaining existing levels.

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