14. Stock control system: characteristics

• It is able to report on the current stock level of every item
• It can highlight shortfalls
• Each item may have a minimum stock level below which an order is raised automatically
• It is able to show the total cost of the current items in stock
• It is linked to the EPOS system so when an item is sold, the stock level is reduced automatically
• Stock checks still need to be made periodically even with an EPOS system because of breakages and possible theft.
• The age of the stock is tracked. Managers can use this to put on special offers to clear ageing stock. It can also highlight when perishable stock has reached its 'use by' date.
• Supplier details are part of the system including alternatives if the main supplier has a delivery issue
• The location of the stock is tracked so it can be found easily and efficiently.
• Records planned delivery dates

Stock turnover is often a key measure of a successful business and stock control is an essential part of that effort.

The stock control system may be part of a larger Management Information System (MIS). This allows stock records to be integrated with other records such as financial. For example, the MIS would allow management to analyse the cost of existing stocks.