Stock Company Management
17 Lượt xem 19 Th11 2024Stock Company Management is a process that explains how an organization records and tracks the stocks (items) it has purchased, sold or owns. It can be used to track raw materials, work-in progress, finished goods, as well as spare parts.
It is important to have enough stock to meet the demand. A lack of inventory means that you may miss out on sales opportunities, whereas excess stock could drain your funds and increase the cost of storage. The ideal amount of inventory is determined by analysing sales forecasts, warehouse and distribution processes, as well as the performance of your suppliers.
Controlling stock is all about accurately recording and tracking stocks. This can be done either manually or by using computer software that links with your point of sales (POS) system or your client management software. These systems monitor and record the stock levels in real time and alert you to low stocks before they become a problem.
It is essential to regularly examine your turnover rates and look for patterns. If you have lots of items that are slow sellers and occupying valuable warehouse space, you should think about not buying them again in the future and instead concentrate on marketing and driving sales of products that are more popular. Be aware that factors beyond your control may affect your overall stock turnover like price fluctuations at suppliers and the difficulty in sourcing raw materials. Many industry peak bodies and suppliers may release reports that focus on these types of changes, and you can always ask your business advisor for suggestions on specific stock management techniques.
