Ensuring a 98% stock accuracy is but one of the many ways to make business success so much more achievable. Knowing what is in stock and actually knowing it is there ensure confident customer service. Running a proper stock management system ensure less cash flow restraints.
Being able to account for all assets keeps the business books in balance. Once defined easy to trace.
· Understanding inventory through proper classification – (ABC analysis)
· Getting control over inventory through a proper counting system
· Implementing an Inventory management system
· Understanding Shop floor control and its impact on inventory
· Asset inventory count
· Compiling an asset register
· Standard operating procedures