There are some strategies without which you can not pull up your business. Inventory management is no doubt one of those most basic. If you are planning to set up a business and fulfillment, inventory management is a must. It involves tracking, management and verification of the goods that are actually crucial for the fulfillment of each transaction. Companies implemented this tactic specific business excellence in inventory management with perfection and precision.
Check out the below tips of SOP for Stock Management:
- Manager has to keep merchandise always according to sanctioned limits , and replenish them weekly (avg. 30 day stock) as 3% sale stock ratio has to be maintained.
- Manager has to submit weekly list of fast moving / slow moving
- Manager has to do physical stock taking at least one counter daily.
- Manager must ensure that physical stock register of all counters are maintained on daily basis.
- Manager should maintain all sorts of shade card and product list in the store.
- Limit formulation of each counter stock should be strategically done by the Store Manager before 24 of each month.
- Any feedback of the product received from the customers to be sent to the concerned category.
- No product should be there in the Store which is not in the Menu
- Product list (if there, immediately inform the Category Head)
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