Stock management

Stock management is like having a toy box. You have a lot of toys but they need to be organized so that you know which ones you have and where they are.

Let's pretend we have a toy box with 10 toys. We need to keep track of how many toys we have and when we need to buy more toys.

When we take a toy out of the toy box, we need to make sure we put it back in the same spot so that we can easily find it next time. This is called stocktaking.

If we notice that we only have one toy left in the toy box, we know we need to buy more toys. This is called stock control.

Stock management is done in businesses so that they can keep track of how many products they have in their store or warehouse. They make sure they have enough products to sell to their customers and they know when they need to order more products from their suppliers.

Just like the toy box, businesses need to make sure they keep their products organized so that they can quickly find them when a customer wants to buy them.