The
aim of stock control is to minimize the cost of holding stocks while ensuring
that there are enough materials for production to continue and to meet customer
demand.
Stock is needed for the following reasons:
- Manufacturers require stocks of raw materials and components in order to produce their products. They also need stores for the products while they are waiting to be moved out.
- Retail operators need to keep stocks of items for sale.
- All organizations need supplies to support their work processes (such as stationery, tools, and equipment) as well as "spares" of items and materials that are essential to their business continuity
In tourism and hospitality, a stock may include:
- Beverages for bar, mini bar, restaurant, and shop
- Equipment, such as maintenance and cleaning equipment and office equipment
- Linen, such as sheets and towels
- Stationery, such as guest stationery and office supplies
- Brochures and promotional material
- Vouchers and tickets
- Souvenirs and other retail products.
Watch the video below to learn the common ways of managing your products and ordering.