INVENTORY MANAGEMENT
Inventory management in Nepal refers to the management of inventory and stock of the business. As an element of supply chain management, inventory management includes aspects such as controlling and overseeing ordering inventory, storage of inventory, and controlling the amount of product for sale. Your business in Nepal, may also rely on inventory management / control systems to assess your current assets, balance your accounts, and provide financial reporting. Inventory control is also important to maintain the right balance of stock in your warehouses. You don’t want to lose a sale because you didn’t have enough inventory to fill an order.
What is Inventory Control
Inventory control involves having greater oversight over one’s stock. The inventory control function can be interpreted as accounting control and operating control.
Accounting control of inventories is concerned with the proper recording of the receipt and issuance of the goods as well as the flow of goods through the plant into finished stock and eventually to customers.
Operating control of inventories is concerned with maintaining stock with the optimum level keeping in view the operational requirements and financial resources of the enterprise.
Our Service includes:
- Analysis of sourcing of inventory
- Periodic review of stock purchased and sold.
- Periodic stock verification
- Support in maintaining proper record of Stock in and out in the system.
- Support in implementation of various inventory management techniques.
- Adoption of various Inventory Control Procedure.
- Forecasting of Inventories
WHY IS IT REQUIRED?
Being a businessman, understanding what you have in your inventory, where it is located in your godown and when the stock is received and issued can help your company lower costs, speed up inventory fulfilment, and prevent fraudulent activities.
When you have control over your inventory, you’re able to provide better customer service. It will also help you get a better, more real-time understanding of what’s selling and what isn’t. You also don’t want to have excess inventory taking up space in your warehouses unnecessarily. Too much inventory can trigger profit losses––whether a product expires, gets damaged, or goes out of season. Key to proper inventory control in Nepal is a deeper understanding of customer demand for your products.