Page 82 - 8025 - Controlling and locating stock Learner Guide.docx

ADVANCED

RISK MA
 Damage to stock

 Theft of items
 Deterioration of stock

 Items outside expiry date.
The number of stock items that are recorded as being in stock but are not accounted for during stock
take is called shrinkage.

Shrinkage of stock is a loss of money for the warehouse.

Periodic Stock Take

Stock taking can be done either at set periods or on a continuous basis.

Periodic counts are often conducted at the end of the financial year. When doing an annual stock
take the warehouse may need to be closed down for the period of the stock take.
A periodic stock take is used to:

 Determine if inventory records are accurate
 Confirm quantities of stock items so they can be valued

 Determine if effective stock control is being maintained.
Counting can be carried out as a one person or a two-person count.

One Person Stock Take

One person counts the goods by description and quantity from start to finish by:
 Using a blank piece of paper to record details

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