Stocktaking starts with a physical count of every item of stock. No EPoS, till machine or metering system can tell you how much stock you have, they can only estimate stock based on sales or pull through. Additionally, they can’t keep track of money that is not finding its way into your till or EPoS. Stocktaking is critical to accurately assess your position, profit and resources. Furthermore, your stocktaker will reconcile the physical count against all purchases and sales for the period which will highlight any discrepancies and deliver an accurate report of your profit and from this they will be able to tell you how best to improve it.
The reasons for stocktaking are simple. Stocktaking can help detect and reduce pilferage or wastage at an early stage. It ensures price is set correctly and products are cost-effective to stock and sell. It eliminates over and under-stocking. It saves time and money, gives you an expert opinion and offers an action plan to help you improve your results inbetween audits.
Venners stocktaking provides you with not just your actual gross profit but your potential gross profit. In most cases your potential gross profit will be some way above your actual gross profit. By looking at your operations and understanding your business model in detail, we are able to offer advice that will push your actual gross profit closer to your potential gross profit.
Arriving at the agreed time, your stocktaker will introduce themselves to your on-site management. They will then commence the stocktake activities such as counting stock, inputting your goods in, cross checking this against your sales, completing a spirit strength test as well as a brand authenticity test. They will finish by processing your stock report, writing your action plan which they will discuss with the site manager, before offering expert advice aimed at improving the next stock result as well as the overall business.
The first thing to do is to employ a respected, independent stocktaker such as Venners, on a monthly basis. In most cases, this will unearth the problem. If you suspect that the loss is due to a staff member, remember that it could be any one of your team, even the most loyal. If this is the case we can conduct a financial investigation, which may result in arrests and court action.
Stocktaking should be undertaken regularly to really benefit from the up to date overview of ones stock variances. As our action plans are written to push your actual GP towards your potential GP, the more regularly you monitor your progress, the quicker you will see positive results.
We will need to visit your units to understand the scale of the operation. However, a small to medium venues’ liquor stocktake normally takes half a day. A liquor and food stocktake or a larger site generally requires a full day.
Our professional stocktakers usually complete their stock count before your customers arrive or your venue becomes too busy. They deliver a full stock report on the very same day, in person and by email.
Venners stocktakers understand and can work with any EPoS system, on or off the market.
Venners provide Spirit Authentication tests to guard against spirit fraud. A test is carried out during a stocktake that tests the volume of alcohol. We also offer brand authenticity tests for Smirnoff, Gordons and Bacardi.
Venners have a proven track record of uncovering fraud and improper use of tills/banking procedures. Please get in touch with our consultancy division if you suspect a problem with money not finding its way into your tills.
Venners have a designated inventory and valuation unit, with experienced professionals who will provide accurate on-site valuations of your furniture, fittings and effects.
On this page you will find the answers to commonly asked questions regarding Venners licensed trade stocktaking service. If you cannot find the answer you were looking for, please use the contact form provided below and one of our team will be pleased to answer your question via email or telephone.
The founder of our company originated licensed trade stocktaking over 119 years ago. Since then, stocktaking has seen very many improvements with the gradual improvements in technology, however the base rules and mathematics a stocktaker uses has mainly stayed the same. We have a wide array of experience all across the hospitality industry and are sure to be able to offer help and advice regarding your stocktaking solution.