Do you have trouble controlling the inventory in your business? Don’t worry, you’re not alone. Inventory control systems can help solve your inventory management issues. Please read below for more. Inventory control is all about effectively managing where your stock is and what condition...
How exactly does stocktaking help your business? How often does your business conduct stocktaking and is it done often enough? Let’s take a look at the benefits of stocktaking below. Regular stocktaking may just be the answer to your business’s trials and tribulations. Managing your...
The main reason businesses and companies perform audits is to ensure that the inventory shown on their balance sheets matches the physical inventory in storage. Inventory includes everything from goods stored in the business/company premises, goods stored off-premises, goods on consignment with other businesses,...
There are no strict rules when it comes to writing a stock report. This is mainly because of different business models and how each ultimately needs to customise their system for accurate stock taking. However, there is certain information that should be clear from...
Quite often, stock and inventory are used interchangeably but they have different meanings. It’s important to understand that using the two terms interchangeably is technically incorrect and may be misleading when it comes to the financial health of the company. Following is what you...
If you are in charge of a fabric business, you know how difficult it is to manage inventory. This is why it is essential that you find the right system to use. The problem with this is the fact that there are so many...
When it comes to product sales, most businesses share one common overriding fear – dead stock. Items or products that are not selling don’t just take up unnecessary space. These items also tie up the business’ money. One of the best ways to control...
One of the biggest challenges that store owners face is keeping track of their physical inventory. It’s a necessary evil that is a massive disruption and inconvenience for most business. However, stock taking is something that you cannot avoid if you are serious about...
Stock-taking is a valuable process for every company selling a product/s. If not performed on a regular and consistent basis, it is bound to cause serious problems down the line. For example, when the stock-count on the system differs from the actual stock on...
Inventory management is one of the trickiest parts of running a retail store. The inventory that you hold is vital to your business. However, for some companies, especially those that sell products of volatile value, it can be hard to account for the value...
