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What is the importance of stock control?

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Quick Answer

The main importance of stock control is that it is used to keep track of how much inventory is in stock at a given time. This practice is also known as inventory control and can be used by a business to ensure that the right products are in stock.

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Full Answer

Stock control can also be used to ensure that the funds of the business are not spent on unnecessary products that are not needed. It is also used to assist in the event that a problem arises with supplies.

Four main types of stock are used in stock control: raw materials and components, work that is in progress, products that are finished and ready for sale and products that are considered consumables.

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