Stocktaking proving its value

Paul Hunt, stocktaker
Paul Hunt, stocktaker

For most licensed trade and food businesses the need for, and value of, a stocktake is understood. However, it’s always nice to be able to demonstrate it by achieving some significant savings.

Over the last few months I have been able to prove to a number of clients that having a regular stocktake is a valuable service that can pay for itself.

Here are a couple of recent examples:

Invoice stock not actually delivered

A client had Vodka on a delivery note/invoice but it was not on the van and was told it would be delivered next day.

When doing the stocktake there was a large discrepancy on vodka & when questioned nobody could remember if the vodka from this invoice was delivered.

On checking the CCTV for the day after delivery it became obvious that it was not delivered. Once the supplier was contacted they agreed to deliver the missing stock.

Overcharging on invoices

It is not only deliveries that mistakes have been found. Often mistakes are picked up on invoices where things have been overcharged or the wrong prices being charged.

It is quite common in my experience that busy staff quite often do not check invoices thoroughly and so mistakes can go through.

A perfect example recently was where a client was charged for cases of snacks instead of a single cards.

Professional stocktaking pays for itself

These are just 2 examples of how using a professional stocktaker can save your business money – in fact, a stocktaking service quite often pay for itself in the savings it finds.

To find out more about how our stocktaking services can support your business please contact us on 07917 176 005.

Time to book those year end stocktakes

Just a gentle reminder… many businesses have their year-ends in December, early April & October and as a result the demand for stocktakes and professional stocktakers around these times is high.

As we are rapidly approaching the end of the first quarter of 2019, where has the time gone, it is really worth contacting your stocktaker to get your appointment booked in urgently for April or in advance for October.

Find out more about our stocktaking services for the licensed trade and hospitality sectors and about Paul Hunt.

Contact us about your stocktaking needs on 07917 176 005.

Manage your stock at Festivals & Hospitality Events

Stocktaking at Festivals and events by Paul Hunt of Hunt Management SolutionsWith the Summer fast approaching lots of festival, fetes, open days and hospitality events will soon be taking place. However, if you are an organiser, please don’t forget to manage your stock.

Whatever the type of Festival (music, food & drink, beer, proms, weddings, flower shows, Christmas markets etc), food and drink can generate significant income for festivals and events.

However, managing your stock can be a challenge in the more unusual and temporary surroundings chosen for many British festivals such as fields, parks, schools or sports grounds!

Festival stock issues

Just some of the stock issues hospitality event organisers face include:

  • Multi bar and food operations across a festival site
  • High stock levels being retained on site because of the difficulty in re-stocking
  • Shortage of secure, lockable, storage space
  • Lack of good refrigeration facilities to keep food fresh
  • Lot of temporary staff, inexperienced with tills and stock systems
  • Potentially high wastage and theft issues
  • Lack of sales and stock reporting

Maximising your festival gross profit

If you are organising a festival or hospitality event we highly recommend using a qualified and experienced stocktaker. They will help you manage your stock effectively and ensure that your gross profit is maximised.

An experienced stocktaker can help you in a number of ways including:

  • Stock systems & advice
  • Stock reporting
  • Analysis of invoicing, sales and stock
  • Identifying the Gross Profit Percentage per Category & overall Gross Profit
  • Multi bar reporting

Find out more about a Festival & Events stocktaking»

Get a FREE Festival & Hospitality Events stocktaking quote today

Paul Hunt MILSA has been a hospitality events stocktaker for over 15 years. He is an exam qualified member of the Institute of Licensed Trade Stock Auditors (ILTSA), the qualifying body for the Licensed Trade. He has also been appointed to its Council of Management.

He has also achieved the coveted ILTSA Accreditation status. This means that his work practices and procedures have been reviewed by an expert panel of the Institute’s licensed trade stock auditors.

If you would like to discuss your Festival or Event stocktaking/auditing needs and get a free, no obligation, quote then please call us on 07917 176 005 or use our contact form»