Skip to main content


Having an automated business (that is one that can run by itself) is the goal of every entrepreneur. As it is an indicator of business growth.

However, one of the major challenges to this particularly in a product based business is theft. That is having some of your goods unaccounted for which can lead to financial losses. 

Hence, there is a need to put measures in place in order to safeguard your business. 

Stock taking is a major tool that you can use in monitoring sales and 

Types of Stock taking. 

Four types of stock taking are examined here;

1. Routine stock taking : 
This involves taking stocks at regular intervals. This may be done daily at the close of  business or weekly or any scheduled time. 

2. Delegated stock taking :

 this implies holding someone accountable for each item accepted into the inventory. This type of stock taking becomes inevitable as the business begins to grow. So, the inventory manager accounts for any missing item.

3. Unplanned stock taking: 

This is perhaps the most efficient form of stock taking. Here, you take stock unannounced when your staffs are not expecting you. This is very essential if you as the business owner are not always on ground. It keeps your staffs in check as they can not predict when the stock taking will take place. 
4. Computerized stock taking : occurs in firms where each item has been labelled is recognized by the computer. Technology 

Tips to effective stock taking. 

1. Make it  an habit right from the onset of your business so that it becomes an organizational culture as your business begins to grow. 

2. Do not be too trusting. Always remember that business is business. 

3. If your business engages in credit sales, ensure there is a pattern for documenting and tracking such. So that bad staffs will not be stealing from you under the disguise of credit sales. 

4. Please be kind to your staffs so that you can they can be loyal to you. 

5. Try and ensure that there is a receipt for every or almost every transaction that occurs  in your office/shop.

6. Try as much as possible to encourage e-payment in order to reduce cash payment.

You can share your thoughts with me in the comment section. 

Jumoke Ayeni. 


  1. Very informative post. Much thanks again. Really Cool.
    get more lanyard

  2. I admire this article for the well-researched content and excellent wording. I got so involved in this material that I couldn’t stop reading. I am impressed with your work and skill. Thank you so much.

  3. I will share it with my other friends as the information is really very useful. Keep sharing your excellent work. Read more info about can I franchise my business.

  4. You've provided some very useful information. I'm glad I came into this article because it provide a lot of important information. Thank you for sharing this story with us. Stocktaking apps for food and beverage

  5. The article you've shared here is fantastic because it provides a wealth of information that will be incredibly beneficial to me. Thank you for sharing that. Continue to post. franchise business for sale


Post a Comment

Popular posts from this blog


This season of global shutdown has so many lessons enbedded in it. Among which one of the most profound insight for Agripreneurs and business owners generally is to explore more avenues of making money from their business. Before now, traditional approach to increasing revenue in most agri-businesses (especially) in Nigeria were usually tied to business activities that can only be carried out physically.  But at times like these when covid 19 pandemic is challenging all the physical structures of doing business, it has become imperative to have online structures that can keep money flowing in. Here are 5 ways to creating Online income streams in your Agribusiness. 1)Online Orders and sales: Having online platforms where customers can make enquiries and place their orders which results into sales is very essential. However, you must also be ready to listen and respond to feed backs from them. Examples of these platforms includes social media, and websites. 2) Record


Recently, I heard on CNN that the price of crude oil price fell below low a dollar, this was said to be as a result of excess supply. Which happens to be an offshoot of the lock down period when people  are mostly in doors.  I have seen people generally expressing fears about the likely negative outcomes on air and social media. But until we come to the realization of the fact that the new crude oil is in us, we may not see a way forward.  The only thing about this type of crude oil is that it can only be harnessed through creativity and effort.  It lies in your ability to fine-tune whatever you are doing to suite what your existing customers or market currently  need. It is tied to your willingness to learn new skills that will enable you solve existing problems better and even new ones as they emerge.  It is wrapped in your ability to see opportunies in problems both online and offline and then taking action.  It is first of all about acknowledging the new change, then lo

NIRSAL Microfinance Bank is giving out Loans without collateral

The Nigeria Incentive-Based Risk Sharing system for Agricultural Lending ( NIRSAL ) Microfinance Bank has an ongoing low interest rate credit scheme called AGSMEIS . What is AGSMEIS ? The Agri-Business/Small and Medium Enterprise Investment Scheme is an initiative to support the Federal Government's efforts and policy measures for the promotion of agricultural businesses and small/medium enterprises (SMEs) as vehicles for sustainable economic development and employment generation A) Eligible industries 1)Creative & Art industries 2)Fashion, Beauty 3)Apparel & Textile 4)Arts & Entertainment 5)Industrial & Manufacturing 6)Agriculture & Allied Processing 7)Automobiles 8)Information & Communication Technology 9)Telecommunication 10)Media & Publishing 11)Hospitality 12)Catering & Event Management B) How Does It Work? Step 1: Get Trained Attend a compulsory training with a CBN certified Entrepreneurship Development Center (EDC