Stock Control Software – Review of Benefits and Costs
The costs of acquisition and implementation of stock control software can be considerable. Are the long term benefits of such software great enough to justify purchase? Although management should think and plan long term, often a company’s outlook is less than long term. Are the benefits of stock control software obvious enough to outweigh employee time and company treasure needed to put such software in place?
There are many different types of companies that can benefit from using effective, adaptable stock control software. The thing companies have in common is the need to be confident stock controls are in place to accomplish three things; Ensure stock is present when needed, ensure that stock is acceptable for its intended use and ensure that stock is replaced when and if the company so requires it.
Just in Time Stock Control
Regardless of whether a company is manufacturing products or selling products the need for stock to be present at a specific time is vital. When stock needed for production runs short labour costs increase per unit of product produced. Production line downtime increases unnecessarily the cost of production. This increased cost affects sales price and profit margins. Loss of efficiency because stock control failed to provide needed parts when required can be the difference between loss of sales and income for the company.
First In First Out Stock Control
Ensuring stock, when needed, is “fresh” and in usable condition, whether for production or sale to customer is another vital benefit. Effective stock control systems automatically ensure stock is used on a first in – first out basis. Effective stock control software means the minimum amount of non-production personnel time is spent on this aspect of stock control.
Stock Replacement or Reorder
Effective stock control software systems provide confidence that reorder or replacement of stock meets the needs of the company as directed by management. Reorder and replacement does not necessarily mean the same item is now needed as was just utilized. Changes in production runs or special sales efforts can often dictate the need for stock control that is capable of having a specific stock needed at a specific time.
Each of these three areas defines the benefits to any company considering purchase of effective stock control software. In each case an effective system saves time and money by having the correct stock present, in the correct configuration at exactly the time needed.
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