Efficient stock control allows you to have the right amount of stock at the right time. Too much stock means your cash is tied up where it could be put to better use elsewhere. Too little means you will not be able to fulfill orders on time and may lose the business. There are several methods for controlling stock, the difficult part is to find one that suits your type of business.
- keeping little stock and re-ordering as needed suits a business with fast-moving or perishable items
- ordering in bulk makes sense if you have the room to store it or delivery time is lengthy
Bookkeeping Partners can put in place a system for monitoring stock levels so you can release any cash unnecessarily tied up and use it more productively elsewhere.