15 December 2022
We all know how stressful managing your salon’s stock can be, working out how much stock you need and how to organise your levels is time consuming. Read below for 5 steps on how to manage your salon stock levels effectively.
1- Map out your stock take process
Do you have a current plan in place? Are you aware of the stock levels on your shelves? Are you investing in products that aren’t selling? These are key questions you need to ask yourself and if the answer is no then we really recommend starting a stock take and keeping on top of your products.
2- Start your stock take!
Having an electronic database with the amount of stock you have, what they cost and how much you have used previously is an excellent way to ensure you remain in control of your salon’s stock.
Using SalonIQ, you can set parameters of how much stock you need and set minimum and maximum levels of inventory. If your inventory either exceeds or decreases beyond those set levels, an electronic reminder will let you know that it is time to order more.
With our dedicated Stock App you can manage your salon stock levels quickly and easily from your phone.
We also recommend having a dedicated stock controller who knows the process inside out and where everything is kept to keep stock check time down to a minimum.
3- Work out what stock you need
Your stock represents money you have invested into your salon and mismanaging it can have a negative effect on your business.
For example, a salon with less stock than needed will be unable to meet their client’s expectations, such as running out of a certain toner that your client really loves on their hair. Equally damaging is ordering too much inventory, having a large stock of product that you will not use is money essentially wasted, just sat on your shelves not selling.
Finding a stock management system that works for your salon is important, not only for products you are selling such as hairdryers, but the amount of stock that you will use in your client’s treatments or for homecare they may purchase.
Ensure you don’t let discounts affect your purchasing decisions, look at your previous trends and purchase what you know you’ll use. Make sure you consider your upcoming marketing campaigns and shelf life of products.
4- Record your product usage & track shrinkage
Making sure you have enough stock in for your clients is key, if you use items make sure you use the Stock App to remove them out of your stock levels.
Products can become unusable if they pass their shelf life or have been damaged. Ensure you keep track and remove these during stock take.
Trends can have an impact too on your stock levels. Try not too purchase too much of a trending item until you are sure it is going to continue to keep selling well.
5- Keep your storage area in order
Make yours and your team’s life easier and keep your stock storage area tidy and organised. There is nothing worse than hunting through piles of products to find the one you need if you’re in a rush.
Labelling shelves and keeping products in the correct area ensures everyone knows where to look and where to restock.
For any further help with stock takes or how to use the SalonIQ Stock App please email firstname.lastname@example.org.