"Stock Management" analyses an effective management system to control stock, including comments on:
- product classification
- location
- the employment of a stock controller
- calculation of landed cost
- calculation of recommended selling value
- using a stock buying budget
- recording of sales data
- calculation of the salesperson's performance
- stock turn
- aging of stock
- investment in stock
- stock matrix; and
- general management issues relating to stock.
Stock is normally one of the highest valued items in the Balance Sheet of a business. This paper highlights effective control strategies to maximise the performance of the business from its investment in stock.
