The ATUM Stock Takes add-on is a useful tool for easily and intuitively updating your inventory. The tool lets you create a list from the WooCommerce products that need to be counted/checked for stock. When you complete the stock-taking, the stock amounts are reconciled, and every counted product is automatically updated. The tool can also be fully integrated with other add-ons such as Multi-Inventory to help you independently control stock that might be located in specific areas.

“Stocktaking“ or “Inventory counting“ is an essential aspect of inventory management that involves tracking the quantities and locations of all products in stock. It is a critical process that provides accurate inventory records and helps businesses make informed decisions. The importance of counting inventory and its benefit to businesses of all sizes is explored below:

Accurate Inventory Records

Regularly counting inventory ensures that the records of your inventory are accurate. An accurate inventory record helps businesses avoid stockouts, improve customer satisfaction and make better business decisions. Accurate stock counts can help companies determine the optimal stock level to keep on hand to avoid over or understocking.

Reduced Holding Costs

Counting inventory often can also help businesses reduce holding costs. An accurate inventory record ensures that companies do not keep excess stock on hand, which can lead to unnecessary holding costs, such as storage and insurance fees. Reducing holding costs frees up resources that businesses can allocate to other areas of their operations, for example marketing or product development.

Improved Cash Flow

Counting inventory can improve cash flow by keeping the business capital manageable. Excess inventory can create cash flow problems by tying money to stock that sells slowly.