Jewelry Store Physical Inventory Tips

A good jewelry inventory control system makes performing a physical inventory check faster and more accurate. A physical check is an inventory audit which will alert you if merchandise is missing or misplaced.

Jewelry stores without a good inventory control system often perform the physical check process with pen and paper count sheets. That method is slow and prone to error, even in the best case scenarios. 

Using BusinessMind software, a bar code printer for jewelry tagging, and a simple scan gun will significantly increase the ease and speed of the physical check process. This may allow you to do more frequent checks without the inconvenience normally associated with performing a physical inventory. It is recommended that physical checks be carried out at least once a month.

Within BusinessMind software for Jewelers lies a set of powerful physical inventory tools for jewelry stores. These tools allow for multiple session creation allowing your counts to be processed in parallel by small teams of employees. Sessions can be paused so that a physical check can span a few days if needed.

The batch scan tool within the BusinessMind physical inventory tools even permits you to scan jewelry into simple note pad files. These can later be transferred into the physical check tools as batched scans. This allows you to use almost any scanning device to compile a jewelry inventory scan list. Using mobile scanners can allow you to be disconnected from the system while scanning.

Once the physical check is complete the ability to generate a discrepancy report is invaluable.  The BusinessMind physical check interface displays your scanned, missing, and overage jewelry items for easy viewing. Of course there are also options to export these missing and overage items into their own reports. These exports can be opened with programs such as Numbers or Excel for viewing.

Physical inventory checks will alert you to missing merchandise.  More frequent physical inventory verifications will increase the ability to track down the cause of missing or misplaced jewelry. Frequent and accurate physical inventory checks will help deter theft, and will allow you to have better control of your jewelry inventory.