THE COST OF EMPLOYING A PROFESSIONAL STOCKTAKER
People are often reluctant to employ a professional stocktaker because of concern for the cost involved. I prefer to think of it as self-financing as the benefits of regular stocktaking can often save more than the actual fee charged.
The mere fact that controls are in place can often lead to a tightening up and raise profit margins. On an establishment taking in excess of £2000.00 per week, an increase in profits of one percent is often sufficient to pay for regular stocktaking.
The costs involved need to be offset against the losses that can be identified and rectified. Losses can be a result of many factors including dishonesty, poor training, excessive wastage, bad
If the stocktaker is provided with delivery notes as well as invoices, then these can be checked to ensure correct charging. I would not attempt to count the number of times each month that I encounter anomalies on invoices and often have to draw a client’s attention to price increases that would otherwise be missed.
Stockholding can be regulated so as to increase cash flow.
These are just some of the benefits and I would pose the question “can you afford not to employ a professional stocktaker?”
The writer, Tony Last, is principal of Wontner Smith (S & G) Ltd.