Stock control is essential to effectively control your company's inventory. In this post we explain why and how to implement it.
Stock control is an indisputable factor in any company’s success equation. Traditionally when we think of success we tend to think first in terms of quality of service, production, or speed, but not of stock control and inventory management. Mistakes in stock control are costly as they have a direct impact on the entire business structure, damage its image, and consequently, affect sales and reduce profits.
Put yourself in the shoes of a customer who rents/purchases a service or product from us and expects to receive the service on the date we indicate, but nevertheless, it is delayed much more than it should be. The image we are giving to our customers is really bad. But do not worry, all this has a solution, and it is called: Stock Control.
What can we do to control our stock?
There are some preventive measures, which will avoid the stock breakage and the company-customer situation that we told you about before. But what are the measures that we must follow to control the stock?
- The least recommended, but most used, is to manually keep a tally of all our references/products. It can be good logistical support, but it should not be the main method of our strategy. Any human error can lead to a failure.
- Use specialized stock control software. These tools help us to see clearly in what quantity and situation each of our products and references is. It is undoubtedly the most professional option we can choose when controlling our stock.
- To carry a personalized follow-up of objectives in our stock. For example,
- Correct identification of each of our products/references. This point is fundamental for the correct functioning of the whole chain. Without a proper nomenclature, we run the risk of duplicating orders or making important mistakes when sending them to our customers.
- Being more agile than our customer’s demand is also an indispensable point for our company. But it is not an easy task without the help of specialized demand planning software. There are different options on the market to manage the entire demand planning process with an end-to-end vision.
Why should we have a stock control tool?
We can assure you that any company that manages the sale of products and services by itself must have a good organization and an inventory management software, as this directly affects its profitability and costs.
That is why the best option is to have a simple and fast tool, with which you can improve and optimize your forecasts and, therefore, increase your sales.
Request a personalized demo of our demand, production and purchasing planning software here.