The basics of Stock Control

Stock control includes tracking and accounting the items your business sells, uses and manufactures. Stock control systems used in a business depend on the size and operations of your business, a solution such as InsightStock is scalable from a one-person operation to the largest of organisations.

Knowing what stock to buy and when to buy it is essential for a smooth business operation. Stock may vary in unit value, with some stocks being perishable or seasonal, all effecting how your stock system functions.

Things to consider when designing your stock operation include insurance, warehousing, shipping and financing. To manage your stock successfully, you need to find the right balance between the costs and benefits of holding stock. It is important to have enough stock to hand to meet the demand of your customers.

An accurate Stock System is integral to keeping sales flowing and maintaining good customer satisfaction. Having too much stock at one time can equal cash flow loss and incur excess storage costs.

Things to consider when buying stock include shelf life of your product, amount to order of each item and how long a new supply order will take to process. Being aware of the levels of stock in your warehouse is essential for good stock management. Consider how frequently you need to review your stock levels and if your warehouse space is being used to its full potential.

Our Stock Management Software is scalable and adaptable to your business needs regardless of your business industry. Try it out free today and see what we can do for you.

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