Control Stock

Control Stock

1. The process of ordering stock

   • Knowing what was purchesed the previous week
   • How much do we have on hand
   • What functions do we have coming up
   • 3 copies of the purchase order are required

2. Monitoring the delivery of stock

   • Checking correct labels
   • Check for damaged goods
   • Using check lists
   • Purchase order form
   • Delivery order form

3. Stock loss minimisation techniques

   • Staff training
   • FIFO
   • Recording wastage

4. Checking mechanisms

   • Checking the use by dates
   • Checking the invoice is correct
   • Checking for damaged packaging
   • Checking the pricing of the items

5. Stock distribution

   • Stock transfer sheets
   • Par levels

6. Stock level adjustment

   • Use of sales reports
   • Forecasting

7. Liasing with supliers

   • Have good communication
   • Updates of price/brand changes
   • Having preferred suppliers list

8. Stock level processes

   • Popularity index
   • Eliminating slow moving stock
   • Analysing stock levels/movements