How to reduce westage. what is meaning of stock take

Question

Accepted Answer

To reduce wastage, proper inventory management is necessary. Stock take is the process of physically counting and recording inventory.

Implement a first-in, first-out (FIFO) system to ensure older products are sold before newer ones
Regularly review inventory levels and adjust ordering accordingly
Train staff on proper handling and storage of products to prevent damage or spoilage
Conduct regular stock takes to identify any discrepancies and address them promptly
Utilize inventory management software to track inventory levels and expiration dates
Donate or discount products nearing expiration to reduce wastage
Stock take is the process of physically counting and recording inventory to ensure accuracy and identify any discrepancies

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