Inventory control or stock control is an activity of checking your company’s stock.
Inventory control practices and policies should apply to more than just finished and raw goods. Areas where businesses incur expenses or lose sales that inventory control practices and methods could address include:
Ensuring Gateway passes and the issuance of G.R.N. following physical inspection of Goods Received.
Ensuring Material Issuance from a suitable location against Material Issuance Forms (MIF) and Material Request Forms signed by appropriately authorized signatories.
Outlining norms that categorize an item as Damaged or outdated. Specifying procedures on how to move such items from the action items list.