Stock-outs cost sales. Overstock ties up cash. Here are five practices that help Ghanaian retailers strike the right balance with SikaBooks Inventory.
Getting inventory right is one of the hardest operational challenges for any retail business. Too little stock and you lose sales. Too much and your cash flow suffers. Here are five practices that make a real difference.
1. Set Reorder Points for Every SKU
SikaBooks lets you define a reorder point per product. When stock drops below that level, you get an automatic alert. No more running out of your best sellers.
2. Use Batch Tracking for Perishables
For food, pharmaceuticals, and any product with an expiry date, batch tracking is essential. SikaBooks records batch numbers and expiry dates so you always know what to sell first.
3. Conduct Regular Stock Takes
Schedule monthly stock takes and use SikaBooks to record the count. Variances are flagged and posted as adjustments automatically.
4. Analyse Top Sellers Monthly
The Top Products report shows you your best performers by quantity and revenue. Use this to optimise your purchasing.
5. Track Multiple Locations
If you run multiple shops or warehouses, SikaBooks tracks stock at each location and supports inter-location transfers with full audit trails.
The SikaBooks team builds Ghana's leading business management platform. We share practical guides on accounting, compliance, and operations for Ghanaian businesses.