What types of inventory are there?

In principle, yes. In Germany, Section 240 HGB stipulates that every merchant must take stock at the end of the financial year - usually on the balance sheet date of December 31. An inventory is also required when a company is founded, sold or dissolved.

Exceptions only apply to very small companies: Sole traders who generate less than €600,000 in turnover and €60,000 in net profit in two consecutive years are exempt from the inventory requirement. However, most retailers exceed these thresholds, meaning that an annual inventory is part of proper accounting.

Incidentally, stocktaking is not only mandatory, but also useful to know the actual stock level - even if you are not legally required to do one, it is recommended for an operational overview.

The optimum time for stocktaking depends on your business model. Traditionally, stocktaking is carried out at the end of the year, as this is when the accounts are closed. Many retailers set the date directly after Christmas or at the beginning of the year.

It is important that stock levels are as low and calm as possible at the time of the count - this speeds up the count. Seasonal retailers, for example, like to take stock after the peak season, when the warehouse is emptier. Thanks to the postponed inventory in accordance with Section 241 HGB, you can also count a few weeks or months before or after the cut-off date.

The ideal date is one that causes little disruption to business operations: for example, on a Sunday, on a day off or in the evening/night outside opening hours. Then you don't have to close the store and customer traffic doesn't interfere with the count.

In short: Plan the stocktake for a period of low sales and coordinate the date internally and with your service provider well in advance.

The duration of an inventory depends on the size of the sales area or storage area and the number of items. In a small store, the count can be completed in 2-3 hours, while a large supermarket may need several hours or even a full working day.

With the support of a professional stocktaking team, the duration can be significantly reduced - experienced stocktakers often manage to count an entire store within a few hours. Preparation is important: if the goods are properly sorted and labeled, the process is faster.

The methodology also plays a role: the counting time is reduced with an inventory sampling (if permitted), while a full inventory naturally takes longer. An inventory service provider such as OMS Retail can usually estimate quite accurately in advance how much time an inventory project will take.

As a general rule, it is better to plan a little buffer in case unplanned rework is necessary and start early in the day so that you can finish by the evening if necessary.

This depends on the type of inventory and the organization. Many retailers close their store for the duration of the stocktake (e.g. half a day) so that the count can be carried out undisturbed. This is particularly common in the case of a key date inventory in order to record all items in a short period of time.

Theoretically, it is also possible to count during ongoing operations - for example, by blocking off area by area - but this involves risks: customers could move or buy goods while the count is in progress, leading to confusion. It is more practical to carry out stocktaking outside of opening hours.

OMS Retail offers maximum flexibility here: we can count at night, early in the morning or at weekends if required, so that your day-to-day business is not affected. In some cases (e.g. 24-hour supermarkets), a complete closure cannot be arranged; in this case, stocktaking can be carried out in sections, with individual aisles temporarily closed to customers.

Overall, the recommendation is: if possible, carry out the process without customer traffic in order to achieve a clean and quick result.

Inventory sampling is a special type of inventory in which only part of the stock is counted and the total stock is estimated from this. It is permitted by law in Germany (Section 241 (1) HGB), but is subject to strict conditions.

To be allowed to use inventory sampling, your stock records must be kept very properly and you must use a recognized mathematical-statistical method. In addition, the result must be as accurate as a full inventory with a 95% probability.

In practical terms, this means that the method is particularly suitable for large warehouses with many similar items. For a normal retailer, the statistical effort would usually be too high. Before you carry out a random sample, you should always consult your auditor or tax advisor.

In many cases, auditors require at least random recounts to check plausibility despite inventory sampling. In short: Yes, inventory sampling is permissible and saves time, but it requires expert knowledge and clear documentation in order to be recognized.

For this reason, most retailers - especially in the SME sector - continue to rely on the full inventory (as of the reporting date or relocated) to be on the safe side.