Stock control has to be managed properly as storage and security are issues as well as ensuring you have the right quantity to meet customer demand. ICT is now often used in stock control systems.
- Scanning bar codes means stock records are updated immediately on receipt or issue of stock
- Managers can identify best sellers and non movers easily
- Managers can obtain the total stock figure at any time of the day
- Can identify which products sell best at certain times of the day or year
- Computer can be linked to the supplier resulting in product being automatically recorded when re-order level is reached
- Spreadsheets could be used to record information and totals and balances will be calculated using formulae
- Fax/email allows accurate orders to be placed
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