Whether it is an online business or any grocery store, stock (สต๊อก, which is the term in Thai) is essential for every business. It requires the right inventory level, neither too much nor too little, a simple model for dividing a company’s critical of all materials in finished processing products. Inventory management is the set of activities coordination control. Furthermore, in inventory management, attention must be paid to other aspects such as purchase handling storage; sales inventory management is usually entrusted to an import manager.
The Manager Must Have The Following Characteristics:
- Planner must know how to manage the purchase in production of materials in different parts of the world. The goal is the proper inventory at the right time.
- Coordinator paraments are involved in inventory management, purchasing production logistics, et cetera; the manager must coordinate all departments.
- Controller managers must maintain the right level of inventory which can satisfy the customer’s request and produce injury costs. Often these two indicators conflict to meet customer demand and its fluctuations. We should keep a level of extra goods.
Inventories are the raw materials that work in progress, and the finished products are the finished goods that enable production to be scheduled and operated.
There are three main types of stock in a business, there was a raw materials and components that go into the production process for example it could be components that are assembled into an electronic device it could be the raw materials that go into a manufacturing process when those production processes are underway, we have what’s known as work in progress in other words non finished or unfinished good. Example of this would be construction of a housing estate new housing estate being built that’s work in progress.
Why Does A Business Hold Stocks?
A business will want to make sure it holds extra materiel or goods. We’ve already mentioned for raw materials and components of course you need to enable a production to take place. Similarly, a retailer or a wholesaler needs extra materiel in order to be able to sell to customers to be in a satisfied customer demand but also stocks are quite important to allow some protection for the business. Like, enable the business to meet a sudden short-term unexpected increase in demand maybe to enable the business or to handle seasonal changes in demand and also to validate production be scheduled efficiently to make sure there’s enough materials and components for the production lines to run without running out of raw materials.