Stock-taking or inventory checking is the physical verification of the quantities and condition of items held in an inventory or warehouse. This may be done to provide an audit of existing stock valuation. It is also the source of stock discrepancy information.
Stock-taking may be performed as an intensive annual check or may be done continuously by means of a cycle count.[1]A stocktake sale is a sale with reduced prices in a shop designed to sell off stock from previous seasons. This makes the task of stock-taking easier.
