Just in Time stock control Flashcards
What is Just in Time stock control?
Goods are delivered to stores just as fast as they are sold. The Point of Sale system is integrated with the inventory system and supply chain logistics.
Name three advantages of Just in Time stock control.
The store will not run out of fast-selling items.
Stores can be smaller because they don’t have to hold as much stock.
Stores can respond to fluctuations in demand throughout the day.
Easier for the store to manage several small deliveries than one large delivery.
Less storage space is needed in the shop as deliveries go straight on the shelves.
What processes are involved in Just in Time stock control?
Barcodes on the products are matched with the stock database.
Product that was sold is deducted from JiT database - stock decreases by 1
Current stock is checked against stock orders.
If below level, an automatic request is sent to the supplier.
Stock is delivered (barcodes are on packaging, or added by retailer)
Stock is database updat
