Definition, Meaning & Synonyms
stocktake
noun
/ˈstɒk.teɪk/
Definition
The process of counting and verifying items held in stock, typically done in businesses to assess inventory levels.
Examples
- Before the end of the fiscal year, the company will conduct a thorough stocktake of all its assets.
- We need to do a stocktake to see if we have enough supplies for the upcoming project.
- The stocktake revealed several discrepancies in the inventory records.
Meaning
Stocktake refers to an inventory check conducted in a business to ensure that the amount of stock on hand matches the records kept by the company.
Synonyms
- Inventory count
- Inventory check
- Stock count
