Well over a week has passed since we did our Store Stock take and its my job to try and make some sense of the results and bring some useful information out of the data. We had a number of issues to rectify from Online stock ordering issues so had to revise the result to help the departments target the actual losses.
Top 20 Highest Loss Brands in Store for Value
Top 30 Highest Loss Brands in store for Quantity
Revised Stock take Result to compensate for Online Issues caused over the stock take to allow management/department accurate results to reflect there departments and work.
Looked at high loss areas vs high gain areas.
Action Plan for the Stock Team to work on
Increased Monthly Counts of High Loss Areas by Shop floor, Stock team and Security
Line Scanning at Delivery Intake to minimize errors from the DC
All transfers in store to be scanned and not manually entered when being transferred to other stores.
Tracking of all requests for stock to come into the store to minimize holding stock we are not cataloged for.
Stock Team have a whole new set up and focus on what they are to be looking at daily and weekly. With new staff account-abilities and more investigation work to be done. The team will now own all these jobs to help improve our store stock file and its accuracy.
Overall it was a really successful stock take with me and my team trying a few new ways of working but achieving an accurate result in less time and requiring less resource to complete. Now the action plan is pretty much in place and all the departments have been briefed and had one to ones regarding there result. It should now shape how we work for the next 6 months until the next one.
Another 6 months have passed an now we’ve just completed our 6 monthly stocktake in store. The planning this year was even more detailed by me and my team. This was my 4th Stocktake since in this store. Each time we’ve perfected the process and this time was no exception.
Plans drawn up at 30 minute intervals to count 39,000 stock items.
Streamlined process using less staff with higher accuracy.
Trialed new process for double scanning and generating discrepancies.
96% 2nd Blind Check completed by the store after the ORIG Count.
Finishing Time 10:30pm vs 11:30 last time with a higher percentage of accuracy.
Stockrooms counted in 5hrs twice.
Its crazy but i love stocktake, its the time to show what me and my team can do and what we have been working to all year. We plan as much as we can but in the end the rest of it is down to the departments and how well they have managed there stock. I cant wait to get the results and start analyzing them.
Ill be back once we have the result and have analyzed it as much as possible. I know there are a good number of areas where we have had issues and stock inaccuracies exist but i want to see if they match up with the actual result so we can see where to work on over the next 6 months.
First day back from a week off. And what do you go back to in almost every job now. A huge list of emails. I think one of my jobs for this week is to improve my e-mail filters.
I currently use my email I box as my to do list. Recieved between 50 and 200 emails a day I’ve had to put in a number of email filters to make sure what I’m seeing is relevant and filter the rest to look at later. I’m sure everyone gets this now a days when most businesses live in emails.
I’ve spent today sifting and filing and deleting and have it down to a list of 43 relevant emails that I need to action. It’s worth putting in this initial work to help plan and organise the week.
Id love to move away from emails and maybe to better task management or even group email box but unless the whole company changed I think we would struggle.
KPI Development is on the list for next week. Ive got the teams 6 monthly reviews coming up in April and i want to do something new and different for their KPI’s. Every time i set them and we talk about them in the reviews they just don’t feel as if they reflect the day to day job. So i want to come up with a new way to Manage them, so the question is how do you KPI something thats very hard to quantify.
Firstly i’m going to list what are examples of the department running well and also examples of the department running badly. Then try and work out a way to quantify the information and make it more relevant to the team members. Then make sure they relate to the work the team do that then has a direct result to myself that mean the department is achieving what we want it to.
Last week we did a focus week on Online Nil Picks for Online Fulfilment reducing the number of un-investigated Nil Picks by departments by 74% so that was a great success. Improving the stores Stock File Accuracy on the run up to stocktake. 4 Weeks and counting.
I finally set up the Stock Management KPI’s with just one more to work out how to monitor monthly so we can manage the rest of the management team on there stock file and stock work.
2016/2017 is nearly over, I spent a day this week looking at our years budgets vs plans and where we had to re-forecast our budgets for Packaging, Supplies, Online Fulfilment, Dispatch, Couriers, Write Offs, Stock Adjustments etc. Using these for the first year possible i’m going to base our new budgets on a full years actual information. Basing it on our Online Costs increasing by the YOY Increase and Store Costs increasing by the YOY. This means for the first time i can project and have a physically estimated budget for our cost lines for 2017/2018.