Definition, Meaning & Synonyms
stocktaking
noun
/ˈstɒktˌteɪ.kɪŋ/
Definition
The process of counting and assessing inventory to determine the quantity and value of items on hand.
Examples
- Annual stocktaking is crucial for maintaining accurate financial records.
- The manager scheduled a stocktaking session before the end of the fiscal year.
- During stocktaking, discrepancies in inventory were identified and addressed.
Meaning
Stocktaking involves evaluating the inventory of a business or organization to keep accurate records of stock levels and manage resources effectively.
Synonyms
- Inventory check
- Stock count
- Inventory assessment
