The newsagency management challenge for 2011

On Monday I blogged here that of the cose to 3,000 newsagents with a newsagency Point of Sale system in their business, too many do not use the software its full potential.

This failure to use the technology means we have inefficient, unprofitable and theft risking newsagencies.

I laid out some straightforward steps newsagents could take to improve efficiency in and control over their businesses.

I’m glad to report that many newsagents called me to talk about their next steps in improving their businesses in 2011.  More need to act on this.

If you seriously want a more efficient, profitable and better newsagency, here are Here are the proven simple steps to saving time, cutting theft and reducing dead stock in your newsagency.

1. Receive all stock you sell through your computer system.
2. Scan ALL sales.
3. Scan out all products you return to suppliers.
4. Eliminate all department sales – where you type in the amount of the item as you would on an old cash register.
5. Do a complete stock take with the computer system.
6. Implement a program of rolling stock takes of the store by section – never pay for a professional stock taker again. Act on the discrepancies reported from your rolling stock takes – this is theft – by moving categories, being more vigilant or eliminating the lines.
7. Generate stock replenishment orders using your computer system.  STOP relying on supplier reps to order for you – they work for their boss and not for you.
8. Integrate your stock control plan into the schedules of all who work in the business.

There can be no excuses.  If you want to make the most out of your business (and why else would you be in business?) then following these steps is essential and urgent.

If doing a complete stock is too big of a job, consider starting with one department by implementing full stock control justin that part of your business.  I promise you that the experience will drive you to do the whole store.

Newsagents who do not fully manage their entire inventory in the way I suggest are more likely to experience theft, more likely to make bad business decisions and will have much more money tied up in stock than is needed.

Newsagents who do not completely and professionally manage their inventory ought to get their own house in order before complaining about anything else impacting their business.