Inventory Counting | In-House or Outsourced?

Inventory counting is an essential but often time-consuming task for businesses. Whether you choose to conduct stocktaking in-house or outsource it, optimizing the process is key to maintaining accuracy and reducing operational downtime. In this post, we explore the pros and cons of both methods and how Altavant’s tailored solutions can help businesses improve stock accuracy, streamline the process, and save time.

What Is Stocktaking?

Stocktaking, or inventory counting, refers to the process of physically counting items in stock to maintain accurate inventory management records. It’s vital for tracking products, ensuring stock accuracy, and helping businesses meet customer demand efficiently. However, traditional stocktaking methods can be cumbersome, especially when relying on manual tools like pens, paper, and spreadsheets.

Stocktaking In-House: Pros and Cons

Pros of In-House Stocktaking

Many businesses prefer conducting stocktaking in-house due to the greater control it provides. With an in-house team, you can directly monitor the accuracy of stock counts and ensure everything is done according to your specific needs.

However, in-house stocktaking also comes with several challenges:

 

1. Time-Consuming: Traditional methods using Excel and paper can slow down the process.
2. Staff Training: You need to ensure employees are trained in the tools and methodologies used, often diverting their focus from primary tasks.
3. Accuracy Risks: Inaccurate stocktaking can result in costly errors.

Solution: Datascan Inventory Management Counting Solutions

Altavant offers the Datascan platform to streamline in-house stocktaking, cutting the process by up to 66%. With real-time updates, instant reports, and no need for manual entry, Datascan transforms stocktaking into a faster, more efficient process. Here’s how Datascan can improve your in-house stocktaking:

 

• Real-time synchronization: Multiple users can count simultaneously and sync data across devices (phones, tablets, computers).
• Instant Reporting: No more waiting for hours to compile Excel sheets. Get detailed reports in real time.
• No More Paperwork: Eliminate the need for manual counting and reduce the risk of errors.

Outsourced Stocktaking: Why It Could Be Right for Your Business

Outsourcing stocktaking to Altavant provides several advantages over in-house methods:

 

1. Efficiency and Accuracy: Trained professionals ensure that stock counts are accurate and completed quickly.
2. No Disruption to Daily Operations: Outsourcing prevents employees from being pulled away from their core responsibilities, such as customer service.
3. Advanced Equipment: High-quality scanning equipment ensures the precision of your inventory count.
4. Same-Day Reports: Receive comprehensive stock reports immediately after the count.

12 Reasons Why Outsourcing Stocktaking Makes Sense

Outsourcing stocktaking can save you time, reduce errors, and improve accuracy. Here are 12 reasons to consider outsourcing your inventory counting:

1. Time Efficiency: Avoid wasting time scheduling, training, and monitoring staff.
2. Objective Reporting: Outsourced teams provide impartial counts, reducing the risk of falsified data.
3. Reduced Staff Costs: Avoid paying overtime or dealing with staff shortages.
4. Quick Turnaround: With external experts managing stocktakes, you’ll receive same-day reports and minimal downtime.
5. No Need for Expensive Equipment: Outsourcing eliminates the cost of renting or buying stocktaking tools.
6. Higher Accuracy: Outsourced teams are trained to provide precise counts and spot discrepancies.
7. Less Disruption: Keep your business running smoothly without affecting sales or customer service.
8. Improved Reporting: Receive detailed variance, wastage, and stock-on-hand reports.
9. Fewer Errors: Professional staff will help minimize common stocktaking errors like miscounts or incorrect product descriptions.
10. Reduced Overtime Costs: Outsourcing eliminates the need for additional hours.
11. Consistency in Results: Enjoy consistency in stocktaking accuracy over time.
12. Easy Access to Experts: You gain access to stocktaking professionals with extensive experience and the latest technology.

Which Method is Right for You?

Both in-house and outsourced stocktaking have their advantages, but the right method depends on your business’s needs. If you prioritize control and flexibility, in-house may be the best fit. If you’re looking for a faster, more efficient way to manage stock and avoid the hassle, outsourcing with Altavant Consulting  may be the ideal solution.

Altavant’s Stocktaking Solutions

Altavant Consulting provides comprehensive outsourced stocktaking services using Datascan technology, which improves stock count accuracy, reduces time spent on manual processes, and ensures you receive same-day reports. Whether you choose in-house or outsourced stocktaking, Altavant ensures that your inventory is counted efficiently and accurately.

Conclusion

Stocktaking is a crucial task that should be performed with precision and efficiency. Both in-house and outsourced methods have their benefits, but the key is to choose a solution that aligns with your business goals. Altavant is here to help streamline your stocktaking process, improve accuracy, and provide you with the data you need to make informed business decisions.