Physical Stock Take Software

A physical¬†stock take, or physical inventory, is the process of counting or measuring the stock at a company’s location or sub-location. The stock quantities from a stock take are known as quantity on hand, as they represent the quantity physically present, independent of whether the items have been reserved for future sales.

physical stock take

Just a little while ago the only way to do a physical inventory count for small businesses was by using paper and pencil. Employees had to go wall to wall and record all inventory counts manually, either by finding the right item on the inventory count sheets, or by recording item information on a blank form. Needless to say, this method isn’t effective or efficient as there are several issues.

It takes a lot of time to record inventory information manually, or to look for each item on the pre-printed inventory sheets. It is also prone to making mistakes, double counting some items and missing others entirely. Verification counts often do not match, and paper notes are misplaced or lost, resulting in multiple re-counts of the same area. Finally, all notes have to be manually entered into a computer – another tedious and daunting task prone to errors.

Previously small business had little choice. The alternative to manual count – using barcode scanners or mobile computers linked to a local computer network – requires initial investment not feasible to a small business.

Now, new technologies allow businesses of any size to use barcode scanning for physical inventory count and send data directly from a smartphone to the cloud, eliminating manual entries, there is no reason to continue doing inventory counts manually.  Many advanced inventory management system leverage a barcode scanner to improve the efficiency of the physical stock take by scanning barcode labels.

Stock takes are a frequent operation for retail and e-commerce businesses. One of the major selling points of a cloud inventory system like Finale is that stock takes are efficient to take and consistent because records are kept in a single location.

Physical stock take with mobile barcode scanner

Data is normally transmitted from the wireless barcode scanner to Finale via WiFi. If the warehouse does not have a WiFi access point or the WiFi is intermittent , the data can able by synced by docking the scanning and syncing via USB.

To learn more about our cloud inventory management, please check out the capabilities and video tour to get more insight to learn if Finale may be good fit for your application.