Stock management: The Success Key to Deliver Manufactured Goods

A big company which engages itself in the manufacturing of goods and raw materials can succeed in the race of delivering the finished products through efficient stock management of the workers.

There are mainly three types of stocks which need to be managed carefully for the development of the company. The stocks which are managed or handled in stock management are also called inventories. So we can say stock management and inventory management go in a same queue to work for their respective companies. The stocks or the inventories are managed in a warehouse. The warehouse act as a storage place for those stocks which have been finished manufacturing. There are three main types of stocks which are managed in a stock management house. These are as follows:

 The inputs for the stocks of raw materials which have been ordered from a customer's end
The stocks of raw materials whose work is in progress.
The finished stocks whose manufacturing is complete and is ready to be packed and shipped to the far end customer.

The main advantage of stock management is that it controls and handles the raw materials in such a manner that the cost for holding these products is reduced to a great extent yet ensuring enough materials available for requirement of the company. Another big advantage of stock management is that it can adopt itself to various changes. Although poor stock management can lead to several problems known as stock outs or over stocking, it assures less chances of loss in production as it provides full guarantee on security and safety of the produced goods. Stock management takes care about the full satisfaction of the customers by delivering the goods on time. Shipping of the goods is the most important and tough job still though stock management workers succeed in this strategy as well.