Understanding Stocktake KPIs
Stocktakes help businesses manage inventory by providing accurate data. Key performance indicators (KPIs) track how well the process works. The main KPIs are accuracy, count speed, and variance.
Accuracy
Accuracy measures how closely your recorded inventory matches the physical stock. High accuracy means fewer errors in records. Aim for 100% accuracy, but anything above 98% is good. To improve accuracy, train staff and use clear procedures.
Count Speed
Count speed tracks how quickly your team completes the stocktake. Faster counts mean less disruption and lower labor costs. To improve speed, use simple checklists, barcode scanners, or inventory apps.
Variance
Variance is the difference between the expected stock and the actual count. A low variance shows good stock control. Common causes of high variance include theft, miscounts, or data entry mistakes. Review variances after each stocktake to spot and fix problems.
Summary
Monitor stocktake KPIs to keep your inventory process reliable and efficient. Focus on accuracy, count speed, and variance to spot issues early and improve results over time.
