Stock inventory management is the cornerstone of effective supply chain management. When proper inventory management methods and material management system are in place, enterprises can enjoy the benefits of strategic cost management.
People, process, procedures and automation infrastructure all play key roles in proper materials and inventory management. Without all of the three legs, you have an unstable foundation for your business.
Stock decrease occurs in four major ways; through sales, expiries or damages and theft.
Health (Hospitals) and construction (Hardware) industries are greatly faced with stock management issues.
Organisations who thought a software application such as Tally, Pastel, QuickBooks and others will solve their stock management problems are realizing after a stock Audit that their stock balances were terribly inaccurate as it was reflected in the reports generated by these software application.
Negative stock balances are indications of an ineffective stock/inventory management method. Quite often stock managers make forceful adjustment of stock quantities in the software application to agree with the physical balance of stock. This only causes more distortion of the stock positions and only escalates problems.
It can never overly be emphasized that a software is not a system, it is a tool that you use to help manage a system efficiently.
Making stock and inventory management a priority starts with an honest evaluation of the current state of your organization. Some implementations are simple and inexpensive. Other materials management systems require a significant commitment to hardware and software upgrades.
JW & PARTNERS experienced systems experts can re-vitalize material management systems for organisations. We help organisations design restructured plans for stock control points. …contact us…
People, process, procedures and automation infrastructure all play key roles in proper materials and inventory management. Without all of the three legs, you have an unstable foundation for your business.
Stock decrease occurs in four major ways; through sales, expiries or damages and theft.
Health (Hospitals) and construction (Hardware) industries are greatly faced with stock management issues.
Organisations who thought a software application such as Tally, Pastel, QuickBooks and others will solve their stock management problems are realizing after a stock Audit that their stock balances were terribly inaccurate as it was reflected in the reports generated by these software application.
Negative stock balances are indications of an ineffective stock/inventory management method. Quite often stock managers make forceful adjustment of stock quantities in the software application to agree with the physical balance of stock. This only causes more distortion of the stock positions and only escalates problems.
It can never overly be emphasized that a software is not a system, it is a tool that you use to help manage a system efficiently.
Making stock and inventory management a priority starts with an honest evaluation of the current state of your organization. Some implementations are simple and inexpensive. Other materials management systems require a significant commitment to hardware and software upgrades.
JW & PARTNERS experienced systems experts can re-vitalize material management systems for organisations. We help organisations design restructured plans for stock control points. …contact us…
Very informative post..
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