Purpose

To ensure the store maintains optimal inventory levels, preventing stockouts and overstock, while keeping the store shelves organized and presentable.

Scope

This SOP applies to the Retail Store Manager and staff responsible for inventory tracking, ordering, and restocking.

Reference SOPs

Browse the full Whitten Hardware SOP Collection and find the relevant sections:

• Section 3.1: Inventory Management
• Section 3.5.4: End of Day Reporting
• Section 3.5.12: Daily Store Opening and Closing Procedure
• Section 3.5.16: Daily Operations Planning
• Section 3.8.25: Staff Scheduling and Shift Management

Steps

1. Inventory Assessment:
   • Conduct a daily walkthrough of the sales floor and backroom to identify low-stock or out-of-stock items.
   • Compare physical stock with inventory system data to ensure accuracy.
2. Ordering Stock:
   • Use historical sales data and seasonal trends to determine optimal reorder quantities.
   • Place orders with approved suppliers, adhering to lead times and budget constraints.
   • Confirm order receipts and check for discrepancies (e.g., incorrect quantities or damaged goods).
3. Receiving and Checking Deliveries:
   • Verify the shipment matches the purchase order by cross-checking quantities and item descriptions.
   • Inspect products for damage or defects and report issues to the supplier immediately.
   • Update the inventory system to reflect received stock accurately.
4. Stock Organization:
   • Ensure all items are labeled with SKU numbers, barcodes, or other identifiers for easy tracking.
   • Store overstock items in designated areas of the backroom for quick retrieval.
5. Restocking Shelves:
   • Prioritize high-demand and promotional items for immediate restocking.
   • Rotate products according to the first-in, first-out (FIFO) method to minimize waste or obsolescence.
   • Keep shelves neat and organized, maintaining brand guidelines for displays.