A word of warning!

Food stock reporting

In-house Food stocktaking – A case study in saving costs

A recent case study came to light by a client who moved the responsibility of Food stocktaking in-house to potentially save costs. The immediate results produced a very steady 70% GP margin for a period of 12 months following the change to internal reporting….So what’s not to like!….
However following our professional Stocktaker’s review of the client’s historical data, it was discovered that reported stock holding values had increased from an average value in the region of £30K to a whopping £130K! Thereby massaging the profit margin to maintain a respectable stock result.

An immediate stocktake was conducted by our experienced Stocktaker and confirmed an overstatement of stock holding had been creating a false GP% for the entire financial year, masking serious stock control issues and loss of profitability.

Now working with our specialist hospitality stocktaking team, the client is beginning to recoup the losses, reversing an expensive “cost saving” exercise as a result, proving that independent Stocktaking services conducted by our expert, knowledgeable and experienced team can be a much more cost-effective service.

continue reading

Related Posts

  • 663 words3.4 min read

    In our latest "Spotlight" post, meet Ben Torkington, Stocktake UK franchisee covering North Yorkshire. He uses his many years experience working the bars of Leeds, to now help his customers improve their profitability through good stock control. To learn more about he can help your business, or understand a bit more about what is it like to be a Stocktake UK franchisee, read on!

  • 811 words4.1 min read

    The hospitality industry, in particular, has seen a surge in franchise opportunities over the last few decades. While many focus on food and beverage, Stocktake UK has stood the test of time, as an opportunity for those with hospitality experience run a franchise with over 20 years of success behind it.

  • 203 words1.1 min read

    Having recently celebrated his 20 year anniversary as a stocktaker, Simon is enjoying his life as a Stocktake UK franchisee and the improved work/life balance this brings him. Being a trained chef and with a previous career running hospitality venues, he has a range of experiences and skills to pass on to clients. Couple this with Stocktake UK’s unique “Logonn” stocktaking software, and you’ve got a formidable pairing!