Modern stock control systems make use of bar-coded information that is then scanned into computers. This ensures that the computer knows exactly which products have entered and left the stock room. In a retail outlet an EPOS (Electronic Point of Sale) system is used to record exactly what has been sold, allowing up to date stock records to be kept. This data can assist when making the decision on how much new stock to order and when to order it. It is possible to set up an electronic data interchange (EDI), this is a permanent electronic link with the suppliers that can automatically re-order stocks.
All of the information will be held in a database. This will make it easy for the business to carry out an aged stock analysis. This is a computer printout of the stock in order of its age. This makes it easier for the manager to make decisions about future prices and stock purchases. For example, it may be decided to make price reductions on any products that have been in stock for too long (sale) and to reduce the orders for types of stock that have been lying around for too long (size or colour).