Money Control In Branches

We are well-reputed company and are running 60+ outlets in India for our FMCG product. The regular sales are undertaken by the Branch Managers against cash payment.But most of the time we face short fall of cash or stock...if anybody could give a proper idea or guidelines, we will be very thankful to you.
all the best!

Dear gvirucha,

I recommend you buying some ERP software that is used in retail stores. You need to have one central server and each branch should be connected to this server. As and when sale happens the quantity of goods sold should get deducted. There are end-to-end softwares that can handle purchase of raw material --> processing of raw material into finished products --> storage in warehouse --> transportation to the mini warehouses --> transfer of goods to the branches --> inventory at branch --> sale at point of sale --> reports at various places.

At the end of the day, you can ask for stock reconciliation report from the branch manager. They should give explanation for variance, if any.

Next thing is to ensure that when branch takes over the inventory (of retail goods), let them start entering the bar code. When the sale happens it can be through bar code also. Bar coding is a big step towards reduction of variance.

All the best!

Dinesh V Divekar

We are well-reputed company and are running 60+ outlets in India for our FMCG product. The regular sales are undertaken by the Branch Managers against cash payment.But most of the time we face short fall of cash or stock...if anybody could give a proper idea or guidelines, we will be very thankful to you.

all the best![/QUOTE]

Dear gvirucha,
You can also conduct internal audits and stock audits of your outlets on regular basis, so that there can be proper check and control on the branch managers and this will help you out to solve your problem.
We provide such type of audits for our clients, if you are interested for the same, pls call or email us.
Thanks & Regards
Nilay

Devdutt Patnaik had taken a session on managing outages in retail sector. I suggest you either hire someone who have been managing it for other chains or train your employees .
What I could understand from Mr. Patnaik's session, was no matter how strong system you may built or software you may buy, its the human values at the ground zero which makes a difference. He shared how these were leading Fortune Groups, to a major loss. However, with him joining in as chief belief officer, systems were aligned to the cultural and moral values.