Stock control is an essential part of a business operation, and as a business grows, the need for accurate stock control becomes even more important. The aim of stock control is to minimise the cost of holiday stocks whilst ensuring that there is enough stock on site to meet customer demand. There are many advantages of Stock Control.
If a business holds excess stock it could increase warehouse and insurance costs, with some products becoming damaged, obsolete or going out of date whilst in storage. If not enough stock is ordered, then this can lead to loss of production or loss of income due to not meeting customer demands.
Understanding stock levels also helps companies to work out which products are selling well and which are not. They can use stock taking information to steer the course of the business for maximum productivity and income.
Getting the correct balance is not that easy. In the past, keeping a track of levels of stock was a time-consuming affair that was not always precise. These days, however, the use of sophisticated stock taking technology has helped to speed up the process, improve accuracy rates and provide a much more streamlined service. This is especially crucial for businesses that operate online.
IT specialists Inventas has come up with the I-Stock and I-Synch stock taking systems that are both flexible and accurate, enabling firms to perform stocktaking operations live on site. Barcodes are scanned to provide stock data and are verified against stock lists. This data is then processed across a number of systems and into a database. This intuitive system allows you to perform your stock taking functions all within one day, with no manual checking required. The mobile scanning system enables transfers to be carried out live between locations. The technology provides informative reports that can be used to evaluate seasonal trends, best sellers or poor performers, as well as make decisions about which products to promote. Using an accurate and fast system such as I-Stock or I-Synch can save you money in the long term, as well as precious time that can be devoted to other areas of the business.