What is stock management PDF?

Inventory management is the process of ordering, handling, storing, and using a company’s non-capitalized assets – AKA its inventory. For some businesses, this involves raw materials and components, while others may only deal with finished stock items ready for sale.

What is stock control technique?

Stock control, otherwise known as inventory control, is used to show how much stock you have at any one 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.

Which techniques are used to control inventory?

8 common inventory management techniques

• Just-in-time (JIT) inventory. JIT involves holding as little stock as possible, negating the costs and risks involved with keeping a large amount of stock on hand.
• ABC inventory analysis.
• Dropshipping.
• Bulk shipments.
• Consignment.
• Cross-docking.
• Cycle counting.

What are the two types of stock control system?

There are two key types of inventory control systems.

• Perpetual inventory system. A perpetual inventory control system tracks inventory in real-time.
• Periodic inventory system. A periodic inventory system is kept up to date by a physical count of goods on hand at specific intervals.

What is a stock control diagram?

Stock-control charts are used to reduce liquidity problems. These include details on stock levels, usage rates, order quantities and delivery times, such as: Minimum stock holding. The minimum level of stocks held by a firm is called the buffer stock level.

What are the three stock control systems?

Types of Inventory Control Systems

• Perpetual inventory system. A perpetual inventory control system tracks inventory in real-time.
• Periodic inventory system. A periodic inventory system is kept up to date by a physical count of goods on hand at specific intervals.

How do you use stock control in Excel?

How to Create An Excel Inventory Management System

1. Create a spreadsheet.
2. Add any necessary product categories as columns.
3. Add each product that you carry to the spreadsheet.
4. Adjust the quantities as you make sales.
5. Time-consuming process.
6. Lack of automation and real-time reporting.
7. Greater chance for errors.

How do you create a stock control spreadsheet?

To create an inventory spreadsheet in Excel, go to Menu and select New, and then click on the Blank workbook to create a fresh Excel sheet. There, you can input relevant product categories as columns, and add each product you carry into its designated column.