Stock control is important because it prevents retailers from running out of products, according to the Houston Chronicle. Stock control also helps retailers keep track of goods that may have been lost or stolen.Continue Reading
The Houston Chronicle adds that stock control requires monitoring current stock levels, ordered items and products that have been sold. Stock control helps retailers provide a steady supply of products to satisfy customer demand. A lack of items in a store forces customers to look elsewhere, which means lost revenue and bolstering the competition. Monitoring orders on a constant basis also allows owners and managers to order items at certain periods of the year to prepare for holiday or seasonal demand.
The Houston Chronicle notes stock control prevents "shrinkage," which occurs when products have mysteriously vanished through theft or misplacement of inventory. Identifying shrinkage through stock control allows security improvements to be made in the store and store procedures for tracking goods to be enhanced.Learn more about Managing a Business