Office no.308,Nisarg Plaza,Bhumkar Nagar,
Hinjewadi Phase-1,Pune–411057,Maharashtra.India. sales@wonxps.in
Hinjewadi Phase-1,Pune–411057,Maharashtra.India. sales@wonxps.in
Stock management is the function of understanding the stock mix of a company and the different demands on that stock. The demands are influenced by both external and internal factors and are balanced by the creation of purchase order requests to keep supplies at a reasonable or prescribed level. Stock management is important for every other business enterprise.
- stock that is ready to be used in the production of goods.
- unfinished goods that are still in production.
- items that are ready for sale.
- stock that will be used in the daily running of the business and will need updating, for example, fuel and stationery.
Inventory is a major asset that represents tied-up capital; managing stock effectively therefore enables a business to free up capital.
Efficient stock control requires understanding the mix of different kinds of stock and acknowledging the demands on that stock. This help keep stock at a reasonable level, balancing the need for surplus supplies with the need to reduce tied-up capital.