Stock Control
Stock Holding: "Money Is Better In The Bank Than On Your Shelves"
FIFO - First In First Out In The Basic Principle Of Rotating Your Stock

Stock control, otherwise known as inventory control, is used to show how much stock you have at any specific time, and how you keep track of it. It applies to every item you use to produce a product or service, from raw materials to finished goods.

A key purpose of stock control is to minimise stocks and the costs of holding stocks, while ensuring that firms have sufficient stocks to meet customer needs.

This proposition may sound simple, but it is complicated by fluctuations in demand; only some of which may be predictable.

Why we have stock control and why it is important?

Stock and Purchase control is also important to maintaining the right balance of stock in your warehouses. You don't want to lose a sale because you didn't have enough inventories to fill an order. ...

Too much inventory can trigger profit losses, whether a product expires, wastage, theft, gets damaged, or goes out of season.


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