Supporting Business Needs

1. Automated Stock Control

Automated stock/inventory control is a process of managing and tracking the movement of goods in a company’s warehouse or stockroom. With the advent of technology, companies are now able to use digital tools to automate this process, making it more efficient, accurate, and cost-effective.

The automated stock control process works like this:

1. When new stock arrives at the warehouse, each box is scanned and this information is used to update both the stock table and the stock order table.
2. As employees pick items for a customer’s order, they scan each item before putting it in the appropriate container. This updates the number of items in stock.
3. If the amount of remaining stock falls below a specific level, the system automatically generates an order for more stock.
4. Once all items for a customer’s order have been picked and placed in the container, the container’s barcode is scanned to signal that the order is ready for delivery.
5. Finally, the customer order table is updated.

Automated stock control systems rely on a number of different software, hardware, processes and communication links.

Software

Software is the primary tool used to enable automated stock/inventory control. The software allows organisations to track stock levels in real-time, manage orders and monitor supplier performance.

Some example software programs used in automated stock control systems include:

• Inventory Management Software – This software helps manage and track the inventory levels, reorder points, and stock movements.
• Barcode Scanning Software – This software helps to scan barcodes efficiently and keep track of product movements in real-time.
• Warehouse Management System – This software helps manage the physical storage of products in a warehouse and keep track of product locations.
• Reporting and Analytics Software – This software provides real-time data and insights into the performance of the stock control system and can help with decision-making.

Hardware

Hardware is also used in automated stock/inventory control. Some of the hardware components include barcode scanners, mobile devices, and RFID (Radio-Frequency Identification) readers.

Barcode scanners and mobile devices are used to quickly and accurately capture data, such as product information and stock levels. RFID readers are used to track the movement of goods in real time and provide up-to-date information about inventory levels.

Processes

Processes involved in automated stock/inventory control include receiving goods, picking and packing orders, shipping goods and monitoring stock levels. The software automates many of these processes, reducing the risk of human error and improving accuracy.

For example, when goods are received, the software automatically updates stock levels, reducing the need for manual data entry. When an order is placed, the software automatically picks and packs the goods, and generates shipping labels.

Communication

Communication between different parts of the system is extremely important in an automated stock control system. For example, the software must communicate with the hardware components, such as barcode scanners and RFID readers, in order to capture data and update inventory levels in real time.

It also communicates with other systems, such as the accounts system, to ensure that all transactions are recorded correctly. This integration of different parts of the system ensures that the stock control process is streamlined and effective.

2. Traditional & Cloud-Based Technologies

The use of technology and services has become an essential aspect of this communication and collaboration process, making it easier for stakeholders to stay connected and work together seamlessly. We can broadly split the technology into two categories; traditional and cloud-based.

When we talk about “stakeholders”, we can split these into two categories; internal and external. Internal stakeholders are those within the business, such as owners, managers & employees. External stakeholders are those from outside the business, such as customers, suppliers, lenders & the government.

Let’s now look at what these two terms mean and how these technologies are used to communicate & collaborate with stakeholders.

Traditional Technology

Traditional technology refers to the hardware and software that we use on a daily basis. This includes laptops, desktop computers, tablets, smartphones, and more. Traditional technology that we commonly use for communicating and collaborating with stakeholders includes telephones, faxes, email & local network storage.

For example, organisations can distribute files internally through the company’s own file server on the local network. Email could be used for sending an order form to a supplier or an invoice to a customer.

Many traditional technologies have become outdated, though and replaced by modern cloud-based technologies which can support collaborating and communicating with stakeholders more efficiently & effectively.

Cloud-Based Technology

Cloud-based technology is a type of technology where your software and data are stored on a server accessed over the internet. This means that you can access your data and applications from anywhere in the world as long as you have an internet connection.

As cloud-based technologies are accessible from anywhere with an internet connection, this means that stakeholders can access, share, and collaborate on projects and information from their own devices, wherever they may be located. This is particularly useful for remote teams or for businesses with stakeholders located in different parts of the world.

For example, an organisation can upload files to a cloud storage service and share access to the file with internal stakeholders like employees or external stakeholders like suppliers. This will aid the distribution of information and could even allow different individuals to edit the same file together.