What is Stock Confidence?

Stock Confidence is a rating on the confidence of the stock you have.

When a product has stock first entered, or a stock count is done it gets a confidence rating of 100%.

The confidence rating degrades over time at a rate calculated by an algorithm.  The algorithm is influenced by factors such as how much you have in stock, how often the product sells or is used for milling, and how close the last stock count was to what the system expected to find.

Highly active products will lose their confidence rating more quickly, prompting for them to be checked (counted) more frequently

Stock Confidence when viewing products

When looking at the stock in a product record the Stock Confidence rating for that depot/location/lot can be seen next to the stock figures

This shows that the user can be confident of the figures shown on screen as they have been recently checked.

If the confidence rating is dropping too low (each business will determine what percentage is warning/alert/critical, then the product should be checked (counted) to get the rating back to 100%

Stock Confidence to help building a Stock Count

When preparing stock to be counted (Stock > Stock Counts > Step 1) the product list is sorted by default in Stock Confidence sequence, with the lowest rated products at the top of the list.  This is to prompt the selection of the products most needing a count, helping operate perpetual stocktaking.