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The amount of stock a merchant has at present is referred to as stock, and the way you keep track of it is referred to as Stock Control, also known as inventory control. The system helps you keep track of inventory, from the point of its manufacturing to its re-ordering.

This control system also includes all aspects of managing the inventory. Shipping, purchasing, warehousing, receiving, tracking, turnover and reordering of the stock is tracked by the inventory control system. It is one of the most critical functions for any retailer and can potentially mean the difference between the success or failure of their business.

In today’s world, no matter how small or big the business is, manual systems of operation are being done away with and an increasing number of retailers are turning to computerised inventory management systems.

Computerised Stock Control System:

A computerised stock control system is much more adaptable than the manual one, all while being a lot more efficient and accurate. You can find out all about your stock’s movement within seconds with just a few clicks of your mouse, or taps of the screen. A business dealing with various many types of stock at the same time could benefit greatly from this computerised system. You can also avail these services by ARC Ireland.

The software system has a great impact on all phases of inventory maintenance. Recent technological advancements have greatly improved all the tools used in managing the stock. Now, there are several wireless handheld devices available that can scan bar codes of products and send the relevant information to the tracking database in an instant. Control system providers are imparting even better services by taking control over the business owner’s inventory system, regulating the business’ inventory by never letting the stock dwindle, ordering for the new batch as and when needed.

Important features of a Stock control system:

- Enables business owners to attach tracking devices to avoid the stock from getting stolen

- Helps the company in avoiding stock shortages by always keeping the owners aware of the inventory situation

- Saves time by providing a report on re-stocking needs

Benefits:

1. Proper management of stock:

An effective inventory control system ensures that a retailer’s shelves are always properly stocked. Over stocking or deficiency in stock will result in loss for the company. Less stock means dissatisfied customers and over stocking will tie up the business’s money that could have been used in the betterment of the company.

2. Speed and efficiency:

From inputting data to taking inventory, every function is made easier by a computerised inventory system. If inventory was done manually, it would have taken days for the owners to hand count and even then the results might not have been 100% accurate. Computerised control systems allow the same work to be done in a matter of hours and giving more accurate results.

3. Up-to date Data:

The computerised control system automatically updates the data; therefore, whenever any information on stock is required, it could be easily pulled out within seconds from the updated data. Any kind of document needed could also be automatically generated and orders easily placed.


Source: http://www.arcireland.com/understanding-a-stock-control-system-and-how-it-can-benefit-your-business/