| Looking at Profitability |
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Comparing money in and money out will tell you your overall profit but it doesn't tell you much about why you made that profit or what can be done to improve it.
Improving your stock management however, can do just that.
It can describe your profit margins on each product, can help identify and reduce potential wastage and help you refine your product range and prices to maximise profitability.
But what exactly is stocktaking and what does it tell you? To answer these questions we have written a small article to take you though these questions.
Start reading Why Stocktake opposite, or go to the Full Article on our website.
If you are already convinced that stocktaking is a pretty important thing but are not sure why you would want to or need to use Bar-Stock for stocktaking read 21st Century Stocktaking for some answers and visit our homepage. |
| Product News |
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New USB Scales Supported
Bar-Stock now supports the Ohaus Scout Pro USB Scales.
Adding these to your package provides for maximum accuracy
at maximum speed.
Bar-Stock will automatically read the weight of containers
through the USB connection and automatically add readings for scanned products.
1000+ Products Recognised
Our product database now contains Barcodes for more than 1000 products meaning there is much less setup required to start using the system.
Our internet database means that all our customers can be updated when a new product is created.
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 Dear All, We would like to take this opportunity to wish you a very Happy and Profitable New Year.
The Christmas season for Pubs, Bars, Clubs and Hotels is a very busy one but now we are into the New Year, hopefully you have time to be thinking about how you can run your business smarter and help make this year even better than last year!
We have put together this Newsletter which includes general tips and advice as well as up-to-date news about our products and services and we hope you find it useful.
Kind Regards,
James Poupard
GeckoFoot |
| Why Stocktake?
Some of our new customers class themselves as beginners as far as stocktaking is concerned and many don't use the data it gives them to its fullest.
So we have put together this article to describe the Why, How and When of stocktaking.
The primary reason for adequate stock control is:
- To detect pilferage or wastage at an early stage and consequently reduce it to a minimum.
The other reasons for adequate stock control include:
- To accurately value your current stock in terms of cost and potential sales for accounting purposes.
- To eliminate over-stocking - this can result in losses due to products becoming out-of-date or obsolete and can reduce your return on capital investment.
- To eliminate under-stocking - this can effect potential takings and service levels as well as disrupt the day-to-day running of your business.
- To ensure prices are set correctly and products are cost-effective to stock and sell.
There are many other reasons why adequate stock control is important for different businesses and many of these are described later in this article, but every business needs at least some stocktaking regardless of what EPOS or metering systems you may use.
The better you get at stocktaking and the better tools you have, the quicker it will be. The more you understand the data that stocktaking gives you, the more effectively you will be able to run your business.
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| 21st Century Stocktaking
Although EPOS technology has come on leaps and bounds in the last 20 years, stocktaking in Bars has been left in the dark ages.
Most pubs, bars and some stocktaking firms still use pencil and paper for collecting stock data and will estimate contents of open bottles in terms of tenths and use guesswork for other items. Stock data is then copied into other tools which are generally spreadsheets or very limited applications created by stocktaking firms in their spare time.
BarStock can halve the time taken over stocktaking and more than double the accuracy of measurement for open bottles or kegs by weighing containers or measuring the liquid levels. Its analysis and reporting functionality allows you to view data in a number of different ways, helping you to track down the source of, and reduce shrinkage. All this helps reduce your overheads, wastage and maximise your return on investment.
Key Features include:
- Scanning stock directly from the bar or stockroom using the latest in Barcode reading technology.
- Collecting data with your Laptop or with a Windows PDA which can synchronise wirelessly.
- Automatic weiging of contents for 99% accuracy.
- Dynamic and interactive editing and reporting.
- Importing of products and actual sales from EPOS systems.
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| About GeckoFoot
Thank you for reading this far and I hope you have found it useful!
We would like to continue to send useful hints and tips as well as product news and information so would be interested to hear your feedback or ideas for future newsletters.
Our experts include top Bar Managers, Head Chefs, Stocktaking Firms and experienced Software and Internet Developers so topics can be wide ranging.
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