Explain briefly the utility of the bin card in the material control system of an organization
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As bin card is maintained for each item of inventory, the store keeper is well aware about the stock position. On each bin card, he or she can write the minimum stock and maximum stock level so that in case, any item of inventory is touching minimum level, he or she can create a purchase requisition for the fresh supply of the stock. Bin card is an important inventory control technique and is used in various formats. There is no specific format for the bin card as organization can design their own stock card according to their requirements and reporting analysis.
As bin card is maintained for each item of inventory, the store keeper is well aware about the stock position. On each bin card, he or she can write the minimum stock and maximum stock level so that in case, any item of inventory is touching minimum level, he or she can create a purchase requisition for the fresh supply of the stock. Bin card is an important inventory control technique and is used in various formats. There is no specific format for the bin card as organization can design their own stock card according to their requirements and reporting analysis.
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