The stock you hold within your business can account for a good deal of your company finances. And the only way you can work out how much stock you hold and what this stock is worth is if you do a stock take.
Stock taking is the procedure by which you can verify the quantity and condition of the assets you hold. And this can be performed at regular intervals or as an annual review so that company finances can be assessed,
Stock taking can however be a very time consuming process and a complete stock take can be a very costly exercise for a business to complete. But one technique which can dramatically cut the time it takes to do a stock take is to use asset labels or barcode labels on all the stock you own.
Asset labels help you keep track of the items you own and it is significantly quicker to scan a barcode than to manually input data about an item into a computer. By hence reducing the time it takes to capture this information you can thus save a significant number of man-hours, which would normally be lost to manual stock taking procedures.