Stock Query and Its Benefits For Better Inventory Management
Stocks play the role of a heartbeat in a business setup. Accurate tracking and movement of stocks help define the profitability structure which further aids in assessing the future growth of a company. One such critical report to help you make better inventory decision is Stock Query Report. A stock query report helps you get detailed information about the stock. Not only will this give you an idea about your future investments in various stock items but also aid in making crucial business decisions. Here are some of the most interesting and insightful benefits you can reap out of stock query reports:
Benefits of Stock Query Report
· Identifying Top Buyers and Sellers
For any business owner, one of the most important things is to establish a thorough understanding of your loyal and topmost buyers and sellers. This will not only impact your business’ profitability but also help you make informed decisions about your stock. The buyer-seller relationship always needs to be maintained well, because effective management of this, defines the dynamics of buyer-seller evolution. Stock query report allows you to display the top buyers and sellers for an item, based on value or quantity. This will ultimately help provide a level of stability and encourage long term commitment from different parties towards achieving results.
· Stock Availability in the Warehouse
Often there are some items which are in high demand and it gets difficult to keep a track on them. However, with a stock query report, you can easily view the stock item available in the warehouse, to make a sale. The advantage about the stock query report is that you can easily view the number of items available in the warehouse at the invoicing level, so that you can give a clear and timely response to the customer at the time of billing.
· Alternate Stock Items
At times, during a particular sale, you find out that the item being enquired for by the customer isn’t readily available. In such scenarios, a good businessman wouldn’t want to lose out on the customer by informing him about the unavailability of the product. But with a stock query report, you can easily view and draw attention towards the alternate choices that the customer could opt for. This will not only help you retain the customer but also help you avoid any kind of monetary loses due to the unavailability of the product.
· Information About Last Sales
Isn’t it common to get confused between the pricing when you have multiple products to deal with? A stock query report will help you get the historical details of the price which will help you make more informed decisions at the point of sale without making you incur any losses.
Since all the necessary information related to stock item is readily available at a single click at the invoicing stage, stock query report in Tally, helps you save precious time. By giving your customer clear-cut information about the product in demand, you can maintain a healthy relationship with them. Stock Query report will also help you make informed decisions as you will have access to crucial information about various stock items in a blink of an eye.
Quite appealing, isn’t it? To get a thorough view of your stocks, take a GST Software free trial today!
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Author: Pratibha DevasenapathyA newbie in the world of finance writing with a passion to learn something new each day. Pratibha has shown exponential enthusiasm to understand the world of MSME and financing and has been writing blogs to spread knowledge and understanding of digital marketing and social media. With a vast experience of 6 years in digital content writing, she draws attention towards the importance of digital medium through her words.
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