Stock Control Methods

Before we get into how stock control works as well as the different methods available, it is essential to understand why businesses use stock control systems as a way of managing their goods.

Stock Management in the Warehouse

Minimising the number of problems arising from the warehouse will ultimately improve your business’s efficiency and output rate. A poorly run warehouse will only lead to fundamental issues throughout the business, therefore, affecting the customer’s experience. This may be through late delivery, poor quality of goods or even incorrect stock statuses before purchase.

When a business demonstrates effective stock management organising and managing the warehouse becomes seamless. For larger companies, this is key as you may be required to organise your goods based on seasonal demand or perhaps by name or brand. Not only will this make your employees’ day-to-day jobs a lot easier, but it also reduces the amount of time it takes to deliver your customer’s goods.

Ensuring Customer Retention

Satisfying your customers & ensuring your customers are kept happy can often to be determined by the state of your warehouse stock control system. If your customers understand that your products are always in stock, then this can incentivise the customer to return and therefore purchase more goods.

This can be essential for those businesses who are trying to compete within a competitive market. In order to provide a cutting edge customer experience, your stock control management needs to be able to meet the demands of the customer. Fortunately, with the latest technology, this can be automatically set up.

When one of your products reaches your minimum stock level (often referred to as buffer stock), then you will have complete autonomy over your stock levels. When the minimum stock level is met, an order will be placed for more stock or raw materials.

A business with an efficient stock control system will have a set level of buffer stock. Buffer stock refers to the amount of constituency stock available. This is often used if unexpected orders are processed, and there are delays in from suppliers.

Tell us your needs/requirements here...

3 + 5 = ?

Tag Archive for: Stock Control Methods

what is stock control

What Is Stock Control? Complete Guide For New Businesses

, , , ,
Stock control also referred to as inventory control is a system which is essential for every business dealing with logistics.