Bin Card is Maintained By the? (a) Clerk (b) Storekeeper (c) Branch Accountant (d) Cost Accountant
By BYJU'S Exam Prep
Updated on: November 9th, 2023
The Bin Card is maintained by the Storekeeper. It is used to record the stock of each store item. This is maintained for every item available in the store. It gets updated after each receipt or issue. This helps in maintaining and monitoring inventory quickly and hassle-free. Bin cards are also known as stock cards and inventory cards. These are maintained offline by the storekeepers.
Maintenance of Bin Card
A Bin card is a common term in the retail industry that is used to determine the inventory balance of a business. Bin cards include a table with multiple columns and rows.
- It contains data such as the item name, quantity, identification code, and brand name.
- Storekeepers use it to keep track of the inventory in their stores. Every store keeps bin cards for each item or good.
Methods to Check Stock Levels Other than Bin Card
Stock ledger and Computerised methods are the methods to check the stock levels other than Bin Cards. There is a need to check the stock levels in retail because:
- It is possible to manage the current stock level, previously sold items, and ordered items.
- To meet customer demand, a consistent supply of products is provided.
- It allows for customer retention.
- By monitoring order levels, the owner and manager can order stock before it runs out.
- It prevents goods from being under or over-stocked in retail stores.
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