Now a days bin card use is necessary ?

Dear Sir,

I think BIN card is very important tool for any business that have the need to store products for these reasonns,

1. To avoid the situation of under stocking- i.e, to provide continuous 

supply of required inventory so that the activities of production, 

service and sales departments may not be held up. 

2. To avoid over stocking, i.e., to maintain optimum investment in 

inventory considering the operating requirements and financial 

resources so as to reduce carrying cost. 

3. To ensure the procurement of materials and stores of the required 

quality at minimum cost from a reliable source. 

4. To minimize the total cost ( purchase cost, ordering cost, carrying 

cost). 

5. To avoid wastage and losses due to defective or long storage or 

from obsolete. 

6. To manage proper and up to date records of inventories. 

YES! Stock Control/Inventory Control/inventory balance in the case that If ever automation on inventory process failed/Failure then you can go back to your BIN card as your basis for your current Inventory records.