Understand About Stock Inventory

credit:[email protected]

Managing a company consists of various parts. Starting from managing transactions, financial reports, inventory management to managing customers.

Being a business owner means that you have to be able to master at least the basics of it. In order to be able to manage your business well and be able to improve company performance, you don't need to be an expert.

At least when you understand these basic things, managing a company will be easier because every business will have to deal with it. For example, for those of you who have a manufacturing company.

Owning a manufacturing company is certainly more to consider. Starting from looking for raw materials, processing materials, to selling finished products to the public. Not to mention thinking about equipment and tools that will help the production performance process so that product quality becomes better.

One that is part of a manufacturing company is inventory. Manufacturing companies must ensure that inventory is always updated and always available. This is because manufacturing companies depend on the amount of inventory in the warehouse. Inventory stocks must always be maintained so that the production and marketing processes of manufacturing companies are not hampered.

1. What is Inventory Stock?

2. Ways to Control Stock of Inventory

Grouping
Stock of Expensive Goods
Stock of Sold Items
Discipline of Stock Process
Stock of Goods Remaining

3. Mistakes in Managing Inventory Stock

Infrequently Counting Stock of Inventory Items
Unorganized Inventory Room
Doing the Manual Method

What is Inventory Stock?

Stock or inventories of goods are goods that are stored by the company for later sale in the future period. This inventory is not only for finished goods, but also semi-finished goods and raw materials that become raw materials.

The finished inventory stock held by the company will be marketed for the next period. Meanwhile, stock of goods which are semi-finished goods or raw materials are stored by the company for later processing in the production process and become finished goods for sale by the company.

The stock of inventory in one company must always be sufficient and update the amount. In order to avoid bottlenecks in the production process and the marketing process, reliable inventory management is needed by the company. Because if it's messy, it will result in many company work processes being hampered.

Ways To Control Stock Inventory

Grouping

The easiest and simplest way is to group inventory items. In the process of grouping these goods, companies can group goods according to company needs.

For example, by classifying items that are easily lost and items that are not. Then which items run out quickly which ones have a longer time period. This grouping is to make it easier for inventory management to organize goods based on company needs.

Stock of Expensive Goods

Distinguishing which items are expensive and which are not will also help the company's inventory management.

Goods that have high prices will be more prone to loss, therefore inventory management must be very careful to control inventory. This is so that the company is not harmed if there are inventory items with expensive prices that are lost.

Stock of Sold Items

The stock of goods sold is also one of the activities that help the company's inventory management. Checking stock or stock taking can be done every day to check how many items were sold and how much stock is left. This also helps inventory management to always update the number of items owned by the company.

Discipline of Stock Process

It is important to always be disciplined in the process of recording stock of goods is something that must always be done during inventory management.

Discipline in question is always routinely inspecting goods and classifying goods according to the place and label. This is to reduce the condition of stock inventory that is random. It could be that items will be easily lost when storage is not organized.

Stock of Goods Remaining

Stock items are items or items that are no longer sold or are no longer on display. These items must be controlled very well in order to avoid the occurrence of unrecorded inventory and loss of goods.

These items must be grouped separately so that they are not mixed with other stock items and can damage the company's inventory management.

Inventory management in manufacturing companies is certainly more complicated. This is because manufacturing companies have more stock of goods. For example, raw goods to be made into finished goods, then semi-finished goods and finished goods. Each has its own group.

Not only manufacturing companies, other types of companies also need to stock up on supplies. For example, a trading company. The stock of the trading company's inventory must also be careful, because the trading company has enough products to sell to the market.

So that every product must be recorded and every transaction must also be recorded so that there are no mistakes that harm the trading company. If there are items that are damaged or lost and the company does not record it, then financial reporting can be messy. Companies can suffer losses due to the number of missing items that have no known cause.

Inventory management is also carried out by the company to avoid losses due to damaged goods. Inventory stock that is damaged and undetected can be detrimental to the company as well. Because damaged goods cannot be marketed to the public.

This is because the item is defective and giving the damaged item to the customer is a bad thing. Meanwhile, if the damaged goods are raw goods or semi-finished goods, the production process will be hampered. With damaged raw materials, of course, the quality of the product becomes bad and cannot be accepted by the community.

Mistakes in Managing Inventory Stock

Infrequently Counting Stock of Inventory Items

If inventory is rarely counted, problems that occur in the company can be more complicated. For example, the stock of raw material inventory is running low and inventory management is not aware of this, then the production process will be hampered and indirectly the product marketing process will also be hampered, the company's profits will also be getting late.

Unorganized Inventory Room

One of the things that makes the inventory process complicated is an unorganized inventory space. A cluttered room will make it easy for supplies to go unnoticed.

Doing the Manual Method

By doing inventory management manually, the chance of human error will be higher than automatically. Human performance may experience errors when doing stock taking and items that are not recorded or lost.

Doing stock inventory will be very beneficial for every company. Both trading and manufacturing companies. This management will facilitate the company's performance process and of course improve the company's performance.

By performing this management on a regular basis, the company can run smoothly without any obstacles in the production process.