Spot Inventory

Every Monday you will have Spot Inventory due by 10AM, and it is expected to be 100% accurate because you should know the inventory of your store better than any associate working there. You will receive pictures in Dropbox under the Inventory folder along with a spreadsheet of the SKU items and descriptions. Select the month then date and you will then see a spreadsheet with your store’s name. It is imperative that you use your correct store’s spreadsheet because if not it will mess up the Master Sheet that Home Office uses and potentially mess up another store’s hard work.

On Sunday nights your closing staff will do the mini-remerch of the store where essentially all they are having to do is move merchandise from the wall to one of your free standing racks – just switch the two. The purpose of this is to change up the look of your store before you get your new shipment.  This should be very easy because the color schemes and themes are already in place so its all just an easy swap. After the store is mini-merched and organized, your staff will go to the Spot Inventory Picture folder in Dropbox and find all of the items in your store and arrange them neatly on a rolling rack so that when you or a trusted shift leader come in Monday morning to complete Spot Inventory all of that hard work is done!

When you, or your trusted shift leader, come in Monday morning to complete Spot Inventory the first step is to ensure you are opening Dropbox from your computer’s desktop and not through the website (Dropbox.com) because the inventory sheets will not sync correctly with the Master Sheet. You can then use your Quickbooks to quickly see how many of each item you are expected to find, but we will be honest and say that you can’t always trust what your computer says you are supposed to have. There is a glitch in Quickbooks that can occasionally cause your inventory to start at a different number than what we actually transferred you. The Home Office employee doing Spot Inventory is very aware of this glitch and will ensure you aren’t getting counted off for inventory glitches. Use your computer inventory as a guideline, and then use your transfer slips and history of an item tool to see how many you sold versus how many you received.

As you are checking your Quickbooks inventory against what you actually have it is possible that items in your store came in several different colors, but were tagged under the same SKU#. For example, if you see you are supposed to have 4 of an item, but you can only find 1 of it then try and find it in another color. Usually this is the reason you are missing multiple items of one SKU#. Home Office will do their best to ensure each store knows if there is more than one color per SKU#, but there are times this can be overlooked and in those circumstances we are depending on you to know your store’s inventory.

Once you are confident that your spot inventory is correct, you will simply click “save” in Excel and it will automatically update in Dropbox and on the Master Sheet. You will then take a clear picture of each item – one picture per SKU# – so that the associate grading spot inventory can clearly tell what the item is and is able to count the actual hangers of the items. You only need to take pictures of the items you have – you do not need to take pictures of a blank rack to show you do not have an item in stock anymore. Make sure each item is spaced out evenly so that the picture is easily countable. You will need to rename the pictures as the SKU# before uploading them to Dropbox under Inventory, Spot Inventory, Month, Week, Pictures, then your store’s folder.

Go to the How To section of the site to see step by step pictures if necessary.

You are allowed to be missing 1% of your Spot Inventory per month; please include any damages for the month in your quantities for Spot Inventory so that we don’t think it was just stolen. You get 25 items per week so this means you cannot miss more than 1 item per month. In the event you are missing more than 1 item the consequences are as follows:

Week 1: Loss of Manager Discount for one week

Week 2: Loss of Store’s Discount for the rest of the month

Week 3: Manager Write-Up to be put in manager’s file

Week 4: Store Visit from Home Office

Becoming a Lotus Leader