Retailers face a lot of problems with inventory management. Inconsistency in inventory receipt can lead to inaccurate stock numbers and wasteful replenishment of inventory. Both are costly–and preventable–mistakes.
This guide will show you how to create an inventory receiving process. It also includes bonus tips for getting new stock onto the shelves as quickly as possible.
What is receiving inventory?
Receiving inventory refers to receiving stock from suppliers, organizing it in a stockroom and selling it to customers.
A clear process for receiving inventory will help keep your stockroom clutter-free, and your inventory numbers accurate. If a customer asks you to check out a product, this will let you know how much stock you have and where you can find it.
The inventory receiving process
- Count inventory
- Verify accuracy
- Place inventory labels in your stockroom
Let’s now take a look at how to get inventory.
1. Count inventory
The first step in determining your inventory is to count it. You can count your inventory manually or use inventory management software. This will give you an idea of what products you should reorder.
INVENTORY TIP To create and send purchase orders to suppliers and vendors, use the Stocky App Shopify POS allows you to track the status of a purchase order and its expected delivery date once it is created.
2. Verify accuracy
Compare the shipping slip and the shipment to your PO when it arrives to ensure that the correct inventory was received.
As soon as your shipment arrives at your area, verify its accuracy. Be sure to check that the following elements correspond with your PO.
- Description of goods
- Codes for products
- Quantities per SKU
If you find an error, contact the supplier immediately to let them know. Most suppliers will work with customers to rectify errors, regardless of whether they are missing quantities, incorrect products received, or damaged.
INVENTORY TIP After a PO arrives in your store, you can sync it with your inventory in Shopify by using the Stocky App. You can mark a PO as partially received if an item is damaged or missing. Contact your supplier to make sure the missing inventory is shipped.
3. Place inventory labels in your stockroom
After you have verified that you received the right amount and type, you can finally put them away.
Transfer your products from the receiving area into the place where you store inventory. Most merchants have a stockroom or backstore with shelves and storage units. Make sure your stockroom is well-organized and that items are placed in the right place. This will make it easier to locate products for customers by store associates.