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Stock management refers to the various techniques employe a company to ensure that stock levels, raw materials, other supplies, work in progress & finished goods are kept at levels whichprovide maximum service at minimum costs. The techniques used are;
Economic order quantity (EOQ)
Just in time model (JIT)
Activity based costing (ABC).
The best stock management:
A portfolio having a various equity belongs to the different sector it is considered as a Stock Management
The best way the manage a stock is using the FIFO system (First In - First Out) this way we can avoid the obsolets and and garantee the the flow of the products in the Supply Chain. In some stock management systems like SAP and Primavera we can create alerts to make sure de FIFO system is respected.
keeping track of stock flow and weekly stock checks is important for successful stock management
to keep records of Inward & outward of goods.
