What Is Stock Control & Why Is It Important

What Is Stock Control

Stock control is a method used by businesses and warehouses to determine how much stock they have left at any given time and keep a record of how much and what type of inventory they have left. This stock can then be accessed by man lifts and other processes to select the correct gear and move it into the next part of the product’s sales cycle.

Stock control applies to all products and services provided by a business, such as cloud-based items and raw materials. Undertaking regular and correct stock control will determine if you have the right amount of products and supplies on hand should any unforeseen event occur within the supply chain.

Efficient stock control allows a business to have comprehensive knowledge of every product and type stored in the warehouse.

The process of doing stock control consists of inventory control, stock value, order management, and supply chain links.

In the past, businesses used to conduct their stock control manually, meaning walking up and down, counting how much is left of each product and physically writing it down on paper and keeping the hard copies of the process in a file cabinet.

Fortunately, the era of doing the manual labor yourself and risk losing files, documents getting mixed up together, or human error are over! All thanks to the brilliant and innovative stock control software technology we have available today. With just pressing a couple of buttons, capturing essential data has never been easier!

Why Is Stock Control Important

Improves Efficiency

Adequate stock control enhances the productivity and profitability of a business. Thus, a mutual advantage of stock control is efficiency.

Suppose your business can quickly and efficiently locate and complete an order for a customer on time, even ahead of the deadline. In that case, your customer will certainly feel comfortable and satisfied with choosing to do business with you.

However, the number one error for any enterprise is to waste time and energy searching and trying to locate specific items, even in micro warehouses. Therefore, investing in the latest and greatest warehouse software will eliminate the risk of wasting time and delayed orders. Workers can then find and locate the product they need and use the relevant machinery to collect it. The machinery is an important part of distributing stock as well as the technology because safety must be consistently implemented, that is why forklift repair, platform repair, etc. must be monitored. If one important section goes down then the system can collapse due to not being managed correctly.

The beauty about professional software for stock control is that the system will tell your staff exactly where the items are with just a quick search of the product needed, record delivery addresses, and making tracking numbers for the parcels. Thus, improving efficiency.

All of the customers and business information will be kept safe and secure on your company computer. Thus, eliminating the risk of losing any documents as all of the information will be backed up. Should any unforeseen event arise, your business and customers will be taken care of!

Precision and Accuracy

Stock control systems are essential for all businesses and warehouses as the system will help you keep accurate records of the stock you have available and when you have to place a new order with your suppliers. Labeling could be one of the ways in which you could maintain accuracy of your stocks. Having a clearly marked label on every product in your inventory is important for maintaining a productive warehouse. The label usually includes product information, quantity, a basic description and the vendor name, among other essential details. To aid in the smooth functioning of your warehouse, you could thus, invest in on-demand label printers such as Honeywell RLe Mobile Printers.

A good inventory control system could help you boost your efficiency while also tracking your sales trends. Developing strategies for the same could, thus, help your business maintain a profitable result.

Keeping Track Of Sales And Losses

Stock control helps you keep track of what your customers want, what products you need to stock up on due to high demand, and which products are not as popular. Thus, eliminating the risk of over-ordering products and losing money.

The system can alert you of all patterns so that you can focus and prioritize your work and do what you do best, providing quick and accurate services!

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