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Stock (or inventory) control is concerned with how much stock you have at any given point in time, and how to keep track of it.Efficient control means that funds are not tied up unnecessarily, that the threat of stock losses is reduced and the quality of your products and services is maintained thus ensuring that you have sufficient stock to enable you to meet the demands of your customers.The need for stock controlEverything that you use to make your products, provide your services and to run your business is part of your stock. There are four main ‘consumable’ stock types that you may use in your business:

  • ‘Wet goods’ (e.g. perishable-dairy, meat/fish, vegetables etc.)
  • ‘Dry goods’ (e.g. tinned and packet foodstuffs)
  • Stock ready for sale (e.g. cooked or prepared meals, beverages)
  • ‘Other consumables’ (e.g. linen, paper, fuel etc.).

The need for stock control arises because:

  • The cost of holding stock may be expensive.
  • The production of your goods and the delivery of your services will be compromised in circumstances where stock runs out.
  • Stock which is not used within its ‘shelf-life’ will add unnecessary cost to your business.
  • Low quality stock and purchases will compromise your own standards.
  • The need to identify, and quantify, the pilferage of stock, stock wastage and obsolete stock.
Tsakani Stella Rikhotso | Monitoring & Evaluation OfficerSayProWebsite: www.saypro.onlineCell: 27 (0) 713 221 522Email: tsakaniStudy and Qualifications www.saypro.onlineOur Company

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