Stock management refers to the scientific management technique which carries out the effective maintenance of proper level of stock. That is to say that the basic tusk of stock management is to adjust itself to demand through keeping minimum level of ...
Stock management refers to the scientific management technique which carries out the effective maintenance of proper level of stock. That is to say that the basic tusk of stock management is to adjust itself to demand through keeping minimum level of stock. To maintain proper level of stock, it needs to set up proper level of stock. Keeping the proper level of stock on the basis of forecasting future demand indicates the insured amount of materials which can he supplied at any time when there is a demand of consumer.
To maintain the proper level of stock, it is ideal to be realized at the balanced point between the curve of principle of supply and the curve of principle of demand. Bat there are many cases, as there are many factors of limitation in reality, when it could be realized at the unbalanced point than at the balanced point for maintaining the proper level of stock, Therefore, when deciding proper level of stock,, we must consider all kinds of limited factors and choose the best which could be offered at that time.
To make effective management of assets in stock, a concerned party of DEPT of storage and DEPT of Business must have a through understanding of stock management which deals with purchase request, purchase, Receiving, Store, and consumer.
Here are several situations of over stock and slow moving items over-purchase without precise plan, no consumption after ordering as a result of wrong forecast of consumption.
By deciding partial delivery by themselves without consultation with hotels, K.N.T.C. could bring about a business failure for hotels by not delivering imported alcoholic beverages in. adequate time which meets hotels demand,
K.T.H.S.C. for Tourist Hotels also gives hard time for hotels to do stock management of foodstuffs by not delivering foodstuffs in due time which meets the demand of consumers.
To solve above problems, Korea must not only liberalize import but also lower the customs of imported but also lower the customs of imported alcoholic beverages. Then we can show the important tasks of Department of Storage and Department of Business as; to make exact order on the basis of exact calculation of quantity of monthly consumption, to promote substitution for similar items, to map out consumption plan of surplus stacks items and slow moving items after consultation with person who is in charge of Department of business at any time, and to devise new items to replace slow moving items.
Finally, we can draw the conclusion for advantages of stock management as following:
By maintaining proper stock through decreasing surplus stock items and slow moving items, stock management could help hotel to change the stagrant capital into working capital for the purpose of increasing company profit.
By lessening storage cost which occurs as a result of retaining stocks, stock management could contribute to hotels profit/cost management.