22 August 2019

Theoretical Stock on Hand Stocktake

This new client option can be activated for all your outlets if you want them to have the facility to use a calculated theoretical stock on hand figure instead of recording an actual stock take (maybe because someone is off sick or there are other operational reasons for recording a closing stock that period). This is just an option for the user to select so they can still full record their closing stock as normal. If you require this to be activated you would then need to give your outlets full instructions on the type of instance that you would be happy that they use this as there are no further rules to limit it’s use. The Theoretical Stock on Hand can also be viewed as part of the process when a user is creating a requisition.

The theoretical stock on hand is calculated on the current day and uses the previous stock count as the opening stock. We then apply the booked off purchases, refunds, epos sales, stock transfers and wastage since the previous stock count to calculate the expected stock.

When used in the outlet, the theoretical stock on hand value is consolidated based on the stock value of a product from all stock locations within their outlet.  For example, 10 apples in stock location A and 5 apples in location B would give a theoretical stock of 15. This can then be saved as the actual Stocktake based on case sizes, which includes an option to edit quantities if required.

We recommend that the Theoretical Stock on Hand option is also activated in Requisitions as well as on the Stocktake page. The Theoretical stock figure will then be displayed when the user creates an order which is useful for preventing over/under ordering.

To discuss having this new feature activated for your company please contact your Account Manager, Gill Bye: gill.bye@indicater.com or for new enquiries our Business Development Director, Tony Wilson: tony.wilson@indicater.com