Why it pays to book your healthcare year-end stocktake and valuation early

For many healthcare establishments, the year-end occurs around March or April. While that may seem some way off, planning ahead can help ensure you secure a date that works for you and your business.

Secure the date you want

March and April are busy periods for stocktaking, so popular dates can fill up quickly. Booking early gives you the best opportunity to secure your preferred date and time, helping you plan around your opening hours, staffing and other operational commitments.

We recommend completing your stocktake on your actual year-end date wherever possible, providing a clear and accurate valuation of the stock held at the financial year-end. If, however, circumstances mean the stocktake needs to take place shortly before or after year-end, stock adjustments can be made to reflect movements between the stocktake date and your actual year-end. This provides a flexible fallback while still ensuring an accurate year-end stock position.

A certified valuation you can rely on

An Orridge year-end stocktake provides more than an accurate record of the stock you hold. It also provides a certified valuation of your stock, giving you reliable information to support your financial reporting and year-end requirements.

The stocktake can also identify discrepancies between physical stock and system records, highlight potential wastage and provide valuable insight into areas where inventory processes could be improved.

Give your team time to prepare

Arranging your stocktake in advance also gives your team plenty of time to prepare. Good preparation can help the stocktake run efficiently and minimise disruption to you and your customers.

It also provides an opportunity to address any known stock issues beforehand and ensure your team understands what is required on the day.

Take one more thing off the to-do list

The start of the year is busy enough without having to arrange a stocktake at short notice. Booking early gives you greater choice, more time to prepare and the reassurance that your stocktake is planned well in advance.

Get in touch with Orridge today to book your year-end stocktake. Once it’s arranged, you can get on with running your pharmacy, safe in the knowledge that your stocktake is taken care of.