The products in question are on the shelves of shops, in the warehouse and work-in-progress (WIP). Stocktaking is the counting of these products. With our stocktaking technology and services You can get a time and resource efficient, objective and precise look of Your real inventory.
The definition of stocktaking by accounting literature and practice is
A statement so detailed as to reveal the quantity and value of assets liabilities of a company on a given date.
Excess inventory and discrepancies not seen in the records (e.g. theft, negligent managing) can be revealed by stocktaking. It can be confirmed if there is a difference between the actual physical stock and the one by the books and accounts.