Stock Control Explained
What Is It?
Stock control software helps you to keep track of how much stock you have at any given time and where you have it. Efficient stock control ensures that you always have the sufficient amount of stock. It reduces the risk of capital being tied up unnecessarily and protects you from the errors of “walking stick”. It also helps to make future plans.
Signs of Good Stock Control
- Have an overview of your stock. You have to know precisely what and how much you have in stock and what is on order. This can be achieved only if stock numbers are updated instantly after sales and purchases have been done.
- Prevent your stock from running out. Good stock management software offers you a reorder report that shows the items that you have to order – from all suppliers or just one. It also takes into account orders that are in process and haven’t reached to your stock.
- Prevent over ordering. Software should indicate how many products you have to order. This makes it easier for you to prevent ordering an excessively large amount of goods.
- Keep a record of all your stock movements. History of stock movement is a good way to keep a track of all the changes made in your warehouse (who, what, when, why). The program should be able to generate an adequate movement log for you.
- Don’t sell twice. Stock control software should prevent from selling one item twice by allocating products to new orders the moment they are entered.
- Easy stock takes. The efficient software offers custom spreadsheets to update stock levels and then allows you to update the data with just one click.
Where to start?
Erply allows you to do all of this and more. We can get you on right track with inventory management.