What is stock control? Stock control is keeping a record of all the stock a business has available at any one time.
There are several different items that are classed as stock:
- Raw materials and components to make a new product
- Work in progress – stock of unfinished products
- Goods ready for resale
- Consumables – including stationery and printer supplies
Stock control can play a very important part of any business. A good control system will allow you to know the quantity of each product available and if you have enough products to meet the needs of both the business and your customer. A business may have lot of capital tied up in stock and a good stock system can help to keep this to a minimum.
Even if you are just running a small business reselling products from home, it may be worth keeping a system, so that when the company grows you already have a stock procedure in place. For a small business a manual stock control system on cards or using a book may suffice.
Most good accounts packages include stock as part of their software; this may be one of the easiest ways to keep track of stock. A small business may just need a manual stock control system, using stock cards. There are also specific packages available, these may be either online or PC based.
What is stock control? – Manual Stock control
For a business not holding much stock, a simple manual stock control system may suit your needs, this page includes a free stock control card.
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