For any company it is necessary to have good stock control, also known as inventory control, because this ensures efficiency and productivity in the management of products to effectively cover the commercial demand of customers. Learn with us what stock control is all about!
Definition and meaning of stock control in a company
Stock control is a very important practice for business management, as it is an inventory management system designed to maintain a recordro of products or materials existing in a company.
The primary purpose of inventory control is to ensure that a company has the proper level of products or materials to meet the needs of your customers. An adequate inventory must be part of a company’s ERP.
This type of system is designed to control and manage the movements of products or materials within any company, which includes tracking the customer orders, inventory, product pricing, delivery, etc. All this allows an organization to guarantee greater profitability.
What is the function of a stock control?
This control can be done manually or automatically, depending on the needs of the company. He manual control it is the process of keeping a manual record of inventories, which can be a good option for small companies. He automated controlOn the other hand, it refers to the use of software to control inventory, being very useful in helping to reduce human errors, improve efficiency and save time.
Stock control is an essential part of running a business, as it allows managers to keep an exhaustive record of the products or materials that are in stock at any given time. This helps a company determine How much should you buy and when should you buy it?.
In addition, it serves to control the total cost of materials, detect fraud and material waste, and identify any inventory errors. In short, it is a very important and essential practice for business, as it ensures customer satisfaction and increases the profitablebusiness identitythus giving a good corporate image policy.
What are the characteristics that a stock control should have?
This is a fundamental task for inventory management, being necessary for keep track of products incoming and outgoing. This allows companies to have better control of their stocks and avoid problems of shortages or excess inventory.
For stock control to be efficient, it is important identify their characteristics main:
- Include the number of items in stock, the cost of the items, and other important information. He record must be updated daily to keep up with inventory movement.
- Second, inventory control must have the ability to track inventory movement. This includes tracking all incoming and outgoing itemswhich helps companies get a better understanding of how inventory is changing.
- It is important that stock control be flexible to allow adjustments of inventory.
- You should provide inventory reports, because this helps businesses make informed decisions about inventory and also allows them to have a better understanding of the demand patterns of the products.
Stock control is a chore fundamental to the administration of inventories and, therefore, it is important that companies identify their main characteristics so that they can take full advantage of their benefits. By making sure that stock control has all these features, companies can have better control of their inventories and make informed decisions to improve the efficiency of your business.
Examples of stock control
Stock controls allow owners and managers to keep track of productsyou in order to meet demand and prepare for new orders. This improves the efficiency of inventory management and allows businesses to maximize their profits. They are explained below Some examples of stock controls:
- physical inventory. This technique involves counting all the existing products in the warehouse and verifying that they match the quantity registered in the accounting books. This helps owners and managers to keep accurate records of the number of products in stock. He output control is another stock control technique that allows this.
- control of orders. This technique involves tracking orders placed by customers, which allows owners anticipate the number of products they will need in the future, which will improve the efficiency of inventory management.
- ticket control. This technique involves tracking the products that enter the warehouse, which allows both the registration of existing products and the estimation of the number of products that will be needed in the future.
It is important to keep in mind that stock controls help businesses to maximize your profits and improve the efficiency of inventory management. Why not try it?
