What Does Counting Cards Mean
What is Bin Card?
Bin Card is a document that records the status of a goods held in the stock. This card is the record of stock quantity movement which is maintained by the storekeeper. In a Bin card individual transaction are recorded in quantity.
Bin Cards helps to monitor the total inventory process. This Card is Similar to library card that shows total movements of the library books and keeps the tracking of that books. Bin Card is issued to track the number of items held in a warehouse or stock rooms. Total received and issued of materials are exhibited in Bin Cards. Bin Card is used in a perpetual inventory system where the continuous taking of inventory occurs.
What Does Counting Cards Mean In Gambling
Advantages of Bin Cards
A gambler will win at gambling if they play their cardsskillfully.This is the origin of the above phrase, for instance someone maysay to a boy who is keen on a girl.' If you play your cards. Count Signals enable you to tell Partner if you have an even or an odd number of cards in a specific suit. Partner can then figure out how many cards Declarer has in that suit, and plan her defense accordingly. Playing a high card followed by a lower one indicates an even number of cards. Counting cards is used in blackjack to give a player an edge over the casino. Contrary to popular belief, counting cards doesn't require any type of 'Rain Man'-like savant qualities, nor is it illegal. It's just highly frowned upon. Therefore, if you start counting cards, you'll have to learn to be incredibly stealthy.
The advantages of Bin Cards are as follows:
- Bin Card minimizes the chances of mistakes because the entries will be made at the same time as goods are received or issued by the person actually handling the materials.
- Control over the stock can be more effective due to
continuous update and the balance of store ledger can be known at any time. - Bin Cards reduces the counting errors
- Different items identification of the materials is facilitated by reference to the Bin Cards the bin or storage receptacle.
What Does Counting Cards Mean
Disadvantages of Bin Cards
- A large stores space is required where Bin Card is used
- As Cards are keeps without any protection, it can be damaged
- Maintaining Bin Cards can be more expensive
- Staffs who are maintaining Bin Cards cannot be properly trained up
- Issued or received materials may not posted due to negligence
Format of Bin Card
BIN CARD
BIN No………………… Minimum Quantity……………………
Code No……………….. Ordering Level…………………………….
Item/Material/Article……………….. Maximum Quantity………………………
Store Ledger Folio…………………….
| Date | Quantity Received | Quantity Issued | Balance | Remarks |
Prepared by………………………………. Checked by……………………..
Signature………………………………. Signature…………………………..