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Stock Company Management – Managing the Inventory of Goods Your Business Plans to Sell

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Stock Company Management is the control of the items that your company plans to sell. It includes storing, purchasing and tracking inventory and keeping track of changes. It can also include predicting the demand, reducing costs and having the right amount each product in the storehouse to meet sales forecasts.

The best system for cashflow will depend on the size of your company as well as the type and size of stock you hold. Smaller companies manage their inventory by hand, using spreadsheet formulas or reorder points. Larger companies may use enterprise resource planning software.

Stock holding costs may include storage fees, labour costs to store, pick and pack the stock prior selling and also spoilage or waste. You can reduce structural costs by implementing a sound stock control system that includes regular stocktakes to ensure that you can track your inventory at any given time. A stocktake compares the records of inventory sold and purchased to the physical inventory in hand. It identifies lost, stolen, dirty or damaged items that you can write off or subtract from the price of the merchandise sold.

Having the right amounts of inventory can help you set profitable prices, however, too much can bind cash and increase the cost of storage and disposal. Stock turnover is a crucial measure. It is the number times stock is purchased and sold during a particular time. This ensures that there is always less stock than sales, and eliminates the need to store or pay for dead stock.