Keeping accurate stock levels
Stocktake improves accountability and stock management, helping you maintain accurate stock levels.
By identifying any stock movements not accounted for by normal processing, Stocktake helps to pinpoint rates of loss and cost implications.
With Stocktake, product information can be extracted from Opera 3 Stock Control, divided and allocated to worksheets so that the relevant personnel can perform manual counts.
On completion, management can run a cross-check, make corrections and post adjustments back into Opera 3 to automatically update stock levels.
Stocktake Profiles allow you to define how stock items are processed when using Stocktake. You can specify how often a stocktake should be performed on certain items and how many times stock items are counted. You can also specify
tolerance percentages, which are used when the actual quantities found during a stocktake are different to the quantities on the system; stock counts outside the acceptable limit are then flagged up for attention and cannot be posted until the issue is resolved.
A default Stocktake Profile is automatically allocated to all current Stock Profiles when Update Data Structures is performed. You can either utilise this or delete it and add one or more new profiles. If you create more than one Stocktake Profile, you need to link them to your Stock Profiles or to your warehouses for each item as necessary.
Moving stock that is currently in a stocktake
A stock item can be issued to customers or receipted into stock whilst being counted via Stocktake. This means that other areas of the business can continue to use the Stock Control application and the count currently in progress is not affected. Stocktake users are given the 'Adjusted' value, which is calculated automatically by the system, and have the flexibility to choose which quantity should be posted back into Opera 3.
Selecting items for a stocktake
You can select the items to include in a stocktake based on the warehouse and bin number they are located in, by stock category, or from a range of stock references. You also have the option to include only items that are due to be counted (ie items that are supposed to be counted at regular intervals) or items that are overdue for a count.
Filtering items by bin location
If you are using bin locations, you can split up and plan your stocktakes based on bin locations, allowing for logical counts to be undertaken more effectively.
Controlling adjustment costs
This gives you the flexibility to choose between Last Cost price, Standard or Average Cost to calculate adjustment costs from Stocktake to Opera 3. Being able to choose the items Last Cost price enables more accurate reporting and analysis.
"The new functionality means that we can perform our month-end much faster, and because stock management is integrated with our accounting processes, we have 100% visibility of inventory, production and delivery schedules."
Paul Birnie, Financial Director, Wensleydale Dairies