No matter how you feel about sorting things out, you can't afford to let your inventory get messy. A disorganised stock can drag down your retail business and cost you money. That's why you need to stay on top of your inventory management and make it work for you.

Retail stock control is a vital part of running a successful business. It means keeping track of how much, where, and what kind of goods you have in stock, as well as predicting how much you will need and sell. Retail stock control helps you make your customers happy, save money, and boost your profits.

If you are a retailer in New Zealand, you know that retail stock control can be tricky. You have to deal with the distance from other markets, the changing seasons, and the different tastes of your customers. That's why you need to use smart strategies and tools to manage your stock efficiently and effectively.

Here are some great tips for retail stock control:

• Use a cloud-based inventory management system that can work with your point-of-sale, e-commerce, and accounting software. This way, you can see your stock levels, sales, and orders anytime and anywhere on any device.

• Use a barcode scanning system that can make your data entry and verification faster and easier. This way, you can avoid mistakes, save time, and improve accuracy.

• Do regular stocktakes to check if your physical inventory matches your records. This way, you can find out if there are any errors, losses, or damages, and fix your stock accordingly.

• Use the ABC analysis method to sort your inventory into three groups based on their value and turnover rate: A (high value, low turnover), B (medium value, medium turnover), and C (low value, high turnover). This way, you can focus on your most important stock and use your resources wisely.

• Use the economic order quantity (EOQ) formula to figure out the best amount of inventory to order at a given time. This way, you can reduce your ordering and holding costs, while meeting your customer demand.

• Use a just-in-time (JIT) inventory system that can deliver your products to your customers as soon as they order them. This will help you reduce your inventory levels, storage space, and waste, while increasing your cash flow and customer satisfaction.