Stocktaking: meaning, definitions and examples
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stocktaking
[ ˈstɒkˌteɪkɪŋ ]
inventory management
Stocktaking is the process of counting and recording the items in a store or warehouse. It helps businesses keep track of their inventory levels and manage stock effectively, ensuring that they do not run out of popular items or overstock less popular ones.
Synonyms
counting inventory, inventory check, stock audit.
Examples of usage
- We conducted a stocktaking to determine how much inventory we have left.
- The stocktaking revealed several discrepancies in our records.
- A thorough stocktaking helps prevent losses due to theft or mismanagement.
Translations
Translations of the word "stocktaking" in other languages:
🇵🇹 inventário
🇮🇳 स्टॉक लेना
🇩🇪 Bestandsaufnahme
🇮🇩 penghitungan stok
🇺🇦 інвентаризація
🇵🇱 inwentaryzacja
🇯🇵 在庫調査
🇫🇷 inventaire
🇪🇸 toma de inventario
🇹🇷 stok sayımı
🇰🇷 재고 조사
🇸🇦 جرد
🇨🇿 inventarizace
🇸🇰 inventarizácia
🇨🇳 盘点
🇸🇮 inventura
🇮🇸 birgðaskrá
🇰🇿 инвентаризация
🇬🇪 ინვენტარიზაცია
🇦🇿 stox hesabı
🇲🇽 toma de inventario
Etymology
The term 'stocktaking' derives from the combination of 'stock,' which refers to goods or merchandise kept on premises, and 'taking,' which implies collecting or counting. The word 'stock' has its roots in the Old English 'stocc,' meaning a trunk or log, which evolved over time to encompass items held for sale or resources. The practice of stocktaking dates back centuries as it has always been essential for merchants and business owners to monitor their goods and ensure optimal management of resources. By the 19th century, as commercial practices became more sophisticated during the Industrial Revolution, stocktaking evolved into a systematic procedure critical for financial accountability and efficiency in operations. The advent of modern technology has since transformed stocktaking into electronic inventory systems, making it more accurate and quicker.