Table of Contents
What is the process of stock control?
Stock control, also known as inventory control, is the process of maintaining the appropriate quantity of stock, so a business can meet customer demand without delay while keeping the costs of holding stock to a minimum. Businesses dealing with physical products need stock to sell.
What documents are used for inventory control?
Inventory Control uses the following documents for entering and maintaining information:
- Stock Requisition (SR)
- Pick and Issue (PI)
- Issue Confirmation (CI)
- Over the Counter (OC)
- Stock Return (SN)
- Inventory Adjustment (IA)
- Physical Inventory Purchase Input (IP)
- Stock Transfer Issue (TI)
What is inventory control process?
Inventory control is the process of keeping the right number of parts and products in stock to avoid shortages, overstocks, and other costly problems. Inventory control focuses on cutting the number of slow-selling products a company purchases while also increasing the number of high-selling products.
What does stock control means?
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.
What are inventory documents?
The inventory documents are used for actions and transactions related to Inventory items, whether these transactions affect the quantity of the stock or the value thereof (transit, internal-transit, consumption, composition, production, inventory, destruction, shortage, surplus, etc.) .
What is inventory control in or?
Inventory control, also called stock control, is the process of managing a company’s inventory levels, whether that be in their own warehouse or spread over other locations. It comprises management of items from the time you have them in stock to their final destination (ideally to customers) or disposal (not ideal).
What do you mean by stock control?
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.
What is inventory control in warehouse?
Inventory control is the part of your inventory management system that involves what’s currently in stock. It’s about knowing the condition and location of items and controlling when they arrive and leave the warehouse. It maximizes and controls every aspect of the stock in the warehouse.