👉 Stocktaking is a process for managing inventory, or the collection and distribution of goods and services. It involves identifying what items are currently in use, where they are located, and how many units they have. This process helps organizations to optimize their resources and reduce waste by ensuring that only the most important items are kept on hand. Stocktaking can be performed at different levels within an organization, from individual departments to the entire company. It is a critical tool for managing inventory, as it allows managers to
