Stock Management Assignment Help

Stock Management Assignment Help
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Stock Management Assignment Help Online

Also known as inventory management, inventory control, and stock control, stock management is recognized as the practice of storing, ordering, tracking as well as controlling inventory. It does apply to all the items businesses use to create its products or services. So, it can be said that stock management does cover all the aspects of businesses’ inventory. Students who are involved with the study of stock management are regularly given assignments to complete and when they hunt for the best Stock Management assignment help contact the skilled writers of BookMyEssay. All the writers of our organization are highly educated from recognized universities and they have loads of experience in writing assignments for an extended period. Due to this; students can rely on our writing fully. When students approach us for getting Stock management assignment writing help we immediately get involved in their job. Only after doing comprehensive research on the topic of the assignment, we plunge into the job. It is our nature not to copy or pick direct contents from other sources, and it makes our work 100% exclusive. The uniqueness of our work can be verified through a plagiarism detection tool. Additionally, we never miss the deadline for submitting our work.

The Importance of Stock Management

Inventory is considered a vital asset which represents tied-up capital and it manages stock effectively. This is why it can allow a business for freeing up capital. An effectual stock control needs a good understanding of the mixture of various types of stock and admitting the demands that are bestowed on that stock. It helps in keeping stock at reasonable levels, thus, balancing the requirement for extra supplies with the requirement to lessen tied-up capital. Writing assignments on various topics of stock management is not easy. You need to show in-depth knowledge and the highest level of assignment writing efficiency. You can learn a lot from our experts in Stock Management assignment help online.

Different kinds of stock

There are mainly four categories of stock and they are:

  • Raw materials and components – It is that stock which is prepared for use in the manufacturing of goods.
  • Work in progress – It involves unfinished goods which are still in production.
  • Consumables – It is stock which will be utilized in the regular running of the business. It will require updating, like stationery and fuel.
  • Finished goods – These are items which are ready for sale.

According to your wish, you can divide your stock into more categories. Like, when you categorize stock based on value, then you can have categories meant for low, medium, and finally, high-value stock. It will aid you in planning or and funding the replacement of stock when the cash flow is confined.

Retail Supply Chain

The involvement of stock management in the retail supply chain does follow the sequence like:

  • Appeal for novice stock from stores to head offices.
  • Head offices issue purchase orders to the vendors
  • Vendors do ship the goods
  • Warehouses receive the goods
  • Warehouses store as well as distribute to the stores
  • Shops and consumers receive the goods
  • Goods are sold to the consumers at different shops.

The inventory management in the supply chain does involve managing the physical quantities besides the costing of goods when it flows over the supply chain. For managing the cost prices of goods all through the supply chain, various costing processes are employed and they are:

  • Retail method
  • Weighted Average Price method
  • First In First Out or FIFO method
  • Last In First Out or LIFO method
  • Last Purchase Price or LPP method
  • Bottleneck method or BNM

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