How does an inventory controller manage inventory? What methods and techniques help him to perform the job efficiently? Are you interested to find answers to these questions? Have you established a business? Or are you thinking of initiating a new business? No matter which group you belong to. This topic is going to be beneficial for everyone. The reason is that every business has to deal with an inventory. Whether you are performing the job of inventory controller or want to evaluate the performance of your employee. You need to know the basic duties of an inventory controller.
So, let’s start,
Who is an Inventory Controller?
The inventory controller is the person who is responsible to check all the procedures from ordering of inventory to deliver products to customers. Inventory control is responsible for every matter that is related to inventory or stock.
His performance directly affects the profitability of the business. Let’s have a look at what is included in inventory controller duties.
- Placing Order
The inventory controller makes an order to refill the decreasing stock of goods. On-time order placing is necessary to save from the stock situation.
- Keep Logs of All Incoming and Outgoing Goods
One of the essential duties of the inventory controller is to maintain records. of every incoming and outgoing product. This record should include the details of the product, date, and reason.
- Tally the Actual Stock with the Recording Details
The inventory controller can use pen, paper, excel sheets or any system to manage the stock. No matter whatever the source he is using, the real stock status should be matched with the recorded details.
- Report to the Manager If Find Any Mismatch
If the inventory controller found any mismatch in actual counts and recording details of products, they need to report to the manager rapidly. By doing this divergence can be found timely.
- Receiving and Checking of Goods
It is included in the duties of an inventory controller, to check the stock on receiving. On the spot-checking helps to confirm the quality and quantity of products.
- Uploading and Unloading of Stock
It is the duty of the controller to keep a check on products whether the products are received and unloaded from the vehicles. Also, checking while uploading the products to deliver on sales points.
- Placing the Product in the Warehouse
Most important step is to store the goods in the warehouse. A number of factors should be kept in mind while placing products. For example, environment, temperature, moisture, and other factors that can affect the quality of the products and Inventory Controller is responsible for managing all these factors.
- Assist the Manager to Make Inventory Strategies
It is also one of the basic duties to assist the manager to make strategies related to stock. For the smooth flow of sales and future plans.
- Make Report for the Shipping and Arriving Products
The shipping and arriving report contain all the data of received and delivered goods. The stock controller prepares these reports.
- Monitor the Picking and Packing Products for the Customers
When the order received from the manager or sales points asks to deliver products. It is the duty of the stock controller to confirm the quality and quantity of products and to end them to the required place.
- Return of Inaccurate or Damaged Products
In case, the supplier delivers damaged or wrong products. The stock controller takes immediate action. To avoid any loss, he follows the essential steps to return these products.
- Evaluate the Damage and Spoiled Products
Sometimes goods are damaged or expired due to a bad environment. It is necessary to record this loss. Not only this, the stock controller gives the actual reason for this loss.
- Prepare Files for Payment Details
Payments are a necessary part of inventory purchasing. The stock controller prepares a file that contains all the costing of stock. As proof, the receipt is also attached to this file.
- Point the Overstock, Stock-out, or Sead-stock or Missing Products
It is the duty of the inventory controller to point the overstock, stock out, or dead stock situation. Not only this, but he also suggests different plans to avoid these situations.
- Prepare Reports
The stock controller prepares reports according to requirements. For example, a report for sales during specific periods, stock buys in a month or week or a report on the methods used to calculate the cost of the stock.
- Ensure the Cleanliness and Hygienic Factors
Cleanliness is necessary to store products safely. The stock controller makes sure that all crucial methods are being followed in the storehouse to maintain hygiene and cleanliness.
- Communicate the Actual Status of Products on Sale Points
Well, various units, staff, and sales points need the real-time status of the stock. The inventory controller makes sure that they all have access to correct data related to stock.
Final thought
Supervision is the key point in managing any business and Inventory Controller plays a vital role in this regard. It is not as difficult as one might think. Just focus on the points mentioned earlier and use help of Inventory Management Software to deal with your inventory smartly and effectively.
That is SeeBiz Inventory. It is a computer-based program that helps you to track your inventory. It gives you ease at every step of stock management. Why are you thinking this much? Go for the SeeBiz inventory management system as it is a wonderful opportunity. Use it for 3 months with all premium features.
