Stock Company Management involves managing the inventory of products your business plans to sell. It includes purchasing, storing and tracking inventory and recording changes. It can also include forecasting the need, reducing costs, and having the appropriate amount of each product in the storehouse to be able to meet sales forecasts.
Tracking inventory and knowing when to order more is vital to ensure cash flow, however the ideal method will differ based on the size of your business as well as the kind of stock you own. Smaller companies manage their inventory manually, using spreadsheet formulas or reorder points. Larger businesses may employ enterprise resource planning software.
The cost of holding stock could 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 using a reliable inventory control system, which includes regular stocktakes to ensure that you are aware of your inventory at any time. A stocktake compares the data of inventory purchased and sold with the physical inventory in your hand by identifying stolen, lost damaged or soiled items which you can write off as a cost or against the value of the goods sold to make accounting sense.
Stock turnover is a vital measurement. It’s the amount of instances when stock is bought and sold during a given time. Stock turnover is a key measure. It is the number of instances that stock is bought and sold in a specific period. This ensures that there is always less stock than sales, and eliminates the need to store or pay for dead stock.
0 comentário