Regulation of the inventory (stock-in-trade) of a company so that all components or items are available without delay but without tying up unnecessarily large sums of money. Stock control is a discipline well suited to computerization. Many large manufacturers, retailers, etc., have a computerized stock-control system with automatic reordering when the stock of an item reaches a predetermined low level. In retail supermarkets, for example, the act of registering a sale at the check-out reduces the quantity of that item on the computer-held stock record; new deliveries are entered as they arrive. Thus, the stock at any instant can be read from the computer. A periodic check of the actual stock reveals the extent of pilfering. See also perpetual inventory.
Subjects: Business and Management.