It is currently the last chance you have to check your stock levels
However, running out of stock now can have a dramatic impact on your business.
We have a unique report which is super fast to run and gives you an immediate snapshot of your stock levels.
In Cash register report, call up the GMROI (see the selection highlighted) in your point of sale software in the reports here.
You can select the list of options you want, and I suggest you go over these options later when you have time.
I recommend doing this by departments or supplier, whatever makes more sense for you.
Now you get a report like this.
As you can see the items are all listed.
Let’s look at it in detail:
What we are looking for is items with low stock on hand figures, decent sales, and reasonable ROI% figures, ROI% is the return on investment, it is one of the best ways to determine how valuable your stock items are to your business. It is calculated by the (unit sold) x (Profit)/ (Average stock cost) and you need about 3.2 in industry, but as you can see here, there are many items above and below it.
Now it is up to you