Process of maintaining inventory data on the quantity, location, and condition of supplies and equipment due-in, on-hand, and due-out, to determine quantities of material and equipment available and/or required for issue and to facilitate distribution and management of material

Stock control, otherwise known as inventory control, is used to show how much stock you have at any one time, and how you keep track of it.

It applies to every item you use to produce a product or service, from raw materials to finished goods. It covers stock at every stage of the production process, from purchase and delivery to using and re-ordering the stock.

Efficient stock control allows you to have the right amount of stock in the right place at the right time. It ensures that capital is not tied up unnecessarily, and protects production if problems arise with the supply chain.

A computerised Stock control System and inventory control System features include:

• Stock and pricing data integrating with back office system. All the systems draw on the same set of data, so you only have to input the data once. Sales Order Processing and Purchase Order Processing can be integrated in the system so that stock balances and statistics are automatically updated as orders are processed.
• Automatic stock monitoring, triggering orders when the re-order level is reached.
• Identifying the cheapest and fastest suppliers.
• Bar coding systems which speed up processing and recording. The software will print and read bar codes from your computer.

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