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Business
Perpetual inventory
Adjusting stock continuously with every receipt and issue, instead of counting once at the year end.
Keep it continuously and you know at any moment what is there. Count once a year and you know it once a year — and estimate in between.
On a wine estate that counts double, because the stock sits in two places: in the cellar in litres, in the store in bottles. Only when a bottling moves both in one step does the picture hold — and only then is the stock declaration more than a reconstruction.
Related terms
Bottling
The move from vessel to bottle — the point at which a batch becomes articles with stock.
Stock declaration
The annual declaration to the competent authority of the wine held on 31 July.
Consignment stock
Wine standing at a merchant or a restaurant that belongs to the estate until it is sold.
These terms in daily use, not in a glossary.
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