Streaming Stock Control Process at PicknPay involves the following rules and explanation:
1. Real-time Stock Monitoring: PicknPay uses a system that continuously monitors and updates the stock on hand for various products in real-time. This system is connected to the point of sale and inventory management software.
2. Automatic Stock Reordering: When the stock level of a particular product falls below a pre-defined threshold, the system automatically generates a reorder request to the supplier or the central warehouse. This ensures that the stock is replenished before it reaches a critical level.
3. Stock Delivery: Once the reorder request is generated, the supplier or the central warehouse fulfills the order by delivering the required stock to the respective PicknPay store. The delivery may be done through various transportation methods like trucks or vans.
4. Stock Receiving: Upon receiving the delivery, the store staff checks the delivered stock against the purchase order to ensure the quantities and product types match. Any discrepancies are reported to the supplier or central warehouse for rectification.
5. Stock Storage: The store staff then stores the received stock in designated locations within the store. This ensures that the stock is easily accessible and organized for efficient stock control and management.
6. Shelf Stocking: From the stored stock, the store staff selects the required quantities of each product and stocks them on the store shelves. This ensures that the products are readily available for customers to purchase.
7. Point of Sale Updates: As customers make purchases, the point of sale system deducts the sold quantities from the stock on hand in real-time. This provides accurate and up-to-date information on the remaining stock levels for each product.
8. Exception Reporting: The system generates exception reports that highlight any discrepancies in stock levels, such as stockouts, slow-moving items, or overstocked items. These reports help store managers make informed decisions regarding stock management and ordering.
9. Inventory Analysis: Regular stock inventory analysis is conducted to identify trends, patterns, and areas of improvement. This analysis helps optimize stock levels, prevent stockouts, reduce wastage, and improve overall efficiency of the stock control process.
10. Stock Auditing: Periodic stock audits are performed to physically verify the stock on hand with the recorded stock levels in the system. This helps identify discrepancies, ensure accuracy, and maintain the integrity of the stock control process.
Overall, PicknPay's streaming stock control process ensures that the store always has the right amount of stock available to meet customer demand, minimizing stockouts and maximizing sales opportunities.
rules and explanation of Streaming Stock Control Process at PicknPay
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