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Making Sense of Inventory and Audits

Inventory is always an uphill battle under the best of circumstances. You have so much stuff. Who wants to count it all? Obviously, different businesses handle merchandise count situations in different ways. But it’s still important to have… Read More

Inventory is always an uphill battle under the best of circumstances. You have so much stuff.
Who wants to count it all?

Obviously, different businesses handle merchandise count situations in different ways. But it’s
still important to have at least some system in place.

If you’ve been struggling with keeping accurate item counts, or discovering holes in your
process…Bravo has your back.

Make it Count: Bravo’s Physical Inventory Cycle Count tools can help you manage your
inventory like a champ. Download it to as many devices as you like in order to make monthly,
quarterly and yearly assessments fast and easy. Simply by using Bravo’s management suite at
point of sale (as well as point of purchase), the app dovetails perfectly with your system to
ensure that your inventory is accurately counted and tracked. Bravo handles all the heavy lifting.
All you do is process items normally, and everything is stored in the cloud.

Navigating Audits: Bravo’s Inventory Management panel allows you to create and manage
multiple audits simultaneously. By entering the Inventory menu, and selecting the Physical
Inventory Audit button from the right-hand panel, you can create any number of custom auditsbased on the individual needs of your business. Depending on your merchandise focus, you can
emphasize some categories over others, organize items based on cost, location and other
factors, as well as establish customized parameters depending on employee assignments.

Once you’ve created the audit, Bravo pushes your list to the Physical Inventory App. Then, it’s
ready to scan, scan, scan.

The App.: Bravo’s P.I. app. makes inventory a breeze. It’s an adaptable Windows application that
works on a host of compatible digital devices like laptops or tablets (it can “live” on your POS
terminals, but it doesn’t necessarily need to). The P.I. app integrates seamlessly with Bravo’s
management software, and is compatible with your standard handheld barcode scanners. By
using the app and scanners to quickly scan tagged inventory items, you and your staff will easily
be able to keep a close and accurate count of your stock at each step of the process.

P.I. even allows you to operate your scanner units in offline mode. That way, when it comes to
counting, you’re only limited by how quickly you can pull the trigger. Going back online once
you’ve completed your scanning automatically syncs all scanned items with the inventory
database. Easy-peasy, trigger-squeezy!

Cycle Counts vs. The Whole Enchilada: Every business operates differently. Some place an
emphasis on the big picture, while others prefer to focus on segmentation.

Total inventory is obviously just that — a full count of everything. But increasingly, many
businesses are opting for what’s called Cycle Counts; i.e., taking stock of a given categorical
subset of items, or items a specific location. While it may seem as though anything less than the
full scope isn’t getting the job done, there are definite advantages to going small on occasion.

One, cycle counts take less time. Think of them as de facto spot inspections. Sure, you may not
be getting a total…but totals are time-consuming, and can be overwhelming. By only focusing
on one segment, it’s possible to get a sense of overall movement without investing the time and
effort to do a total count. Which — as many small business owners know — can involve
overtime, increased staff, and even closing the doors for extended periods…all of which can
negatively impact the bottom line.

Second, given modern analytics tools (like the ones Bravo has baked right in), it’s often
unnecessary to do an expensive, time-consuming, full-boat count of everything. By making an

assessment of a given portion of stock at a particular time, it’s possible to extrapolate a general
snapshot of where things are trending overall…without having to go all-out.

Whether your choice is to do a massive totaling-up of your entire stockroom, or a smaller,
focused cycle count, Bravo’s built-in tools can help you gather and analyze those results.

The Dirtiest Word in Retail: We all know the one. Say it with me…

“Shrink.”

Whether due to accounting errors, customer theft, damage, or in very unfortunate instances,
employee malfeasance, shrink is simply a business fact of life. That said, there are ways to
combat it.

Bravo represents an end-to-end shrink-fighting machine. From immediately logging
merchandise at the moment of purchase, to making sure it’s removed from all platforms of sale
after a purchase, to incorporating robust inventory tools, Bravo runs the tightest ship in the
pawnbroker business.

Bravo’s accountability processes can help minimize losses, analyze the patterns, identify problem
areas, and offer solutions for preventing further holes in the balance sheet. Not to mention that
seeing it in action can really deter any light-fingered associates who may not have the best
interests of your business at heart.

Shrink is unpleasant to think about, but it’s even more unpleasant to experience. We’ll help
however with minimizing the downsizing, and shoring up the till totals.

We get it, pawnbrokers: Inventory can be a real drain on your time, resources, staff morale, and
energy. But, we’re pawnbrokers, too. We get it. That’s why we’ve done everything we can to
engineer a ground-up solution to the unique problems pawn shops face in their day-to-day.

If you have any additional questions regarding how Bravo can help you keep better totals,
implement cycle counts, or keep a lid on shrink, please feel free to reach out to us any time.

 

Interested in seeing Bravo in Action? Discover how our product changes your business. 

Want to learn more about Bravo’s features that pawnbrokers love the most? We’re happy to show you around.