stockkeeping

Stockkeeping refers to the systematic management of the goods and materials that a business holds for use, production, or sale. It encompasses the receipt, storage, tracking, and replenishment of stock to meet demand while controlling costs. The practice aims to ensure product availability, minimize carrying costs, and reduce losses from damage, theft, or obsolescence.

Core activities include receiving and inspecting incoming items, proper storage and labeling, maintaining accurate stock records, conducting regular stock counts, and replenishing inventories when levels fall below predefined thresholds. Reorder points, safety stock, and lot tracing help manage variability in demand and supply. Inventory can be organized using methods such as first-in, first-out (FIFO) or last-in, first-out (LIFO), as well as FEFO for perishable items. Classification techniques like ABC analysis prioritize control efforts by item value or criticality. Perpetual inventory systems track stock in real time, while periodic systems update records at intervals. Valuation methods, commonly FIFO, LIFO, or weighted average, influence financial reporting.

Technology supports stockkeeping through inventory management software, barcodes, and radio-frequency identification (RFID). These tools enable faster counting, error reduction, and integration with purchasing, sales, and production systems.

Roles involved include stockkeepers or warehouse clerks, and inventory managers or controllers, who oversee accuracy, cycle counting, and compliance with safety and quality standards. Risks include shrinkage, spoilage, damage, obsolescence, and supplier delays. Effective stockkeeping balances service levels with carrying costs and lead times, adapting to the specific needs of warehouses, retailers, manufacturers, and healthcare or other sectors.