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Why do we need to manage our stock?
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[QUOTE="Mataracy, post: 86920, member: 28733"] Management of stocks: t The optimum level of stock depends upon a variety of factors,arising from the interests of the different departments involved in production and management should establish an overall policy for stocks after considering the interests of the organization as a whole. The following points should be noted: (a) FINANCIAL: From a financial point of view,the aim should be to minimise stockholding cost. To know the cost of production, To know the cost of keeping the stock. (b) BUYING: The average level of the stocks held will tend to increase if advantage is taken of special buying offers,example lower prices or higher discounts. (C)PRODUCTION: In the interests of efficiency production runs should be as long as possible. This requires large raw material stocks to safeguard against shortages resulting in alterations to the production schedule. (d) SALES: the sales department will want to be able to satisfy all customers' orders.This will mean high stocks if finished goods to provide s buffer against uncertainty of demand. (e) OBSOLESCENCE: This is the most serious aspect of stock wastage Stores management must attempt to minimise holdings of items which may become obsolescent. I believe we can all see that management of stock is very important. You idea about managing of stocks will also be recognize . [/QUOTE]
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