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How to Count Inventory in a Liquor Store
Whether you are opening a new store, doing a monthly/weekly count, or doing an end-of-year count, doing a physical inventory count can be a daunting task. Over the years we have found a few tips that will be helpful to have in knowing how to count the store. Each store counts on an individual basis, but these tips can be used across the board.
Zero Out Inventory
If you plan on zeroing out your inventory counts, you must do this before you start counting. If you do it while you are counting, you will essentially zero out everything you have counted thus far. This will require you to start your counts over.
Count When the Store is Closed
Do not count when the store is open at any cost. This will make your counts off as people are picking up items off the shelves, items are being purchased, the store could be getting a shipment in, etc. The best practice is to always count when the store is closed. This way there is no mistaking that you have missed any product within the count.
Have Multiple People Counting
By utilizing multiple people to count, you will not only get the count done in less time, but you can count several departments at once. This will allow employees to not over-count and error on counts.
Within mPower, you can also merge multiple counts together for one simple adjustment document.
Count by Department
If you cannot count the store in one day, we suggest counting one department at a time. For example, count beer one day, wine the next, and then liquor the third day. This will allow you to get accurate accounts of each department without overlapping products within the count.
Review the Counts
This is the most important aspect of doing a count. You will want to review the count to make sure there are not inflated (or deflated) numbers before submitting the adjustment.
Once you have reviewed and submitted the adjustment, within mPower, you can run reports including the Not Counted report to see what items may have been missed. This will allow you to zero out the items you are not selling/out of or see if there are any products you missed while counting.
Taking the time to plan an inventory count could seem like work, but is also necessary for a smooth and accurate count. As a reminder our tips are:
- Zero out inventory; before you start counting.
- Count when the store is closed; to avoid selling product while counting.
- Have multiple people count; get the count down quicker and more efficiently.
- Count by department; as to not miss or overlap product.
- Review the counts; make sure counts are accurate.
By utilizing our tips, your physical counts will now be more efficient than ever.
Additionally, our software can help you make it easier to do your inventory counts with our inventory scanning tool, inventory adjustment, and inventory adjustment merge.