diff --git a/app/Models/Tenants/Stock.php b/app/Models/Tenants/Stock.php
index 15ea604..0326499 100644
--- a/app/Models/Tenants/Stock.php
+++ b/app/Models/Tenants/Stock.php
@@ -82,6 +82,14 @@ public function lots(): HasMany
         return $this->hasMany(StockLot::class)->orderBy('fifo_order');
     }
 
+    /**
+     * 거래 이력 관계
+     */
+    public function transactions(): HasMany
+    {
+        return $this->hasMany(StockTransaction::class)->orderByDesc('created_at');
+    }
+
     /**
      * 생성자 관계
      */
diff --git a/app/Models/Tenants/StockTransaction.php b/app/Models/Tenants/StockTransaction.php
new file mode 100644
index 0000000..2c5fad5
--- /dev/null
+++ b/app/Models/Tenants/StockTransaction.php
@@ -0,0 +1,114 @@
+<?php
+
+namespace App\Models\Tenants;
+
+use App\Traits\BelongsToTenant;
+use Illuminate\Database\Eloquent\Model;
+use Illuminate\Database\Eloquent\Relations\BelongsTo;
+
+/**
+ * 재고 입출고 거래 이력
+ *
+ * 모든 재고 변동을 스택으로 기록합니다.
+ * - IN: 입고 (재고 증가)
+ * - OUT: 출고/생산투입 (재고 감소)
+ * - RESERVE: 수주 확정으로 예약
+ * - RELEASE: 수주 취소로 예약 해제
+ */
+class StockTransaction extends Model
+{
+    use BelongsToTenant;
+
+    const UPDATED_AT = null; // updated_at 사용 안함 (이력은 불변)
+
+    // 거래 유형 상수
+    public const TYPE_IN = 'IN';
+
+    public const TYPE_OUT = 'OUT';
+
+    public const TYPE_RESERVE = 'RESERVE';
+
+    public const TYPE_RELEASE = 'RELEASE';
+
+    public const TYPES = [
+        self::TYPE_IN => '입고',
+        self::TYPE_OUT => '출고',
+        self::TYPE_RESERVE => '예약',
+        self::TYPE_RELEASE => '예약해제',
+    ];
+
+    // 사유 상수
+    public const REASON_RECEIVING = 'receiving';
+
+    public const REASON_WORK_ORDER_INPUT = 'work_order_input';
+
+    public const REASON_SHIPMENT = 'shipment';
+
+    public const REASON_ORDER_CONFIRM = 'order_confirm';
+
+    public const REASON_ORDER_CANCEL = 'order_cancel';
+
+    public const REASONS = [
+        self::REASON_RECEIVING => '입고',
+        self::REASON_WORK_ORDER_INPUT => '생산투입',
+        self::REASON_SHIPMENT => '출하',
+        self::REASON_ORDER_CONFIRM => '수주확정',
+        self::REASON_ORDER_CANCEL => '수주취소',
+    ];
+
+    protected $fillable = [
+        'tenant_id',
+        'stock_id',
+        'stock_lot_id',
+        'type',
+        'qty',
+        'balance_qty',
+        'reference_type',
+        'reference_id',
+        'lot_no',
+        'reason',
+        'remark',
+        'item_code',
+        'item_name',
+        'created_by',
+    ];
+
+    protected $casts = [
+        'stock_id' => 'integer',
+        'stock_lot_id' => 'integer',
+        'qty' => 'decimal:3',
+        'balance_qty' => 'decimal:3',
+        'reference_id' => 'integer',
+        'created_by' => 'integer',
+        'created_at' => 'datetime',
+    ];
+
+    // ===== 관계 =====
+
+    public function stock(): BelongsTo
+    {
+        return $this->belongsTo(Stock::class);
+    }
+
+    public function stockLot(): BelongsTo
+    {
+        return $this->belongsTo(StockLot::class);
+    }
+
+    public function creator(): BelongsTo
+    {
+        return $this->belongsTo(\App\Models\Members\User::class, 'created_by');
+    }
+
+    // ===== Accessors =====
+
+    public function getTypeLabelAttribute(): string
+    {
+        return self::TYPES[$this->type] ?? $this->type;
+    }
+
+    public function getReasonLabelAttribute(): string
+    {
+        return self::REASONS[$this->reason] ?? ($this->reason ?? '-');
+    }
+}
\ No newline at end of file
diff --git a/app/Services/StockService.php b/app/Services/StockService.php
index 629482e..764a8b5 100644
--- a/app/Services/StockService.php
+++ b/app/Services/StockService.php
@@ -6,6 +6,7 @@
 use App\Models\Tenants\Receiving;
 use App\Models\Tenants\Stock;
 use App\Models\Tenants\StockLot;
+use App\Models\Tenants\StockTransaction;
 use Illuminate\Contracts\Pagination\LengthAwarePaginator;
 use Illuminate\Support\Facades\DB;
 use Illuminate\Support\Facades\Log;
@@ -277,7 +278,19 @@ public function increaseFromReceiving(Receiving $receiving): StockLot
             // 4. Stock 정보 갱신 (LOT 기반)
             $stock->refreshFromLots();
 
-            // 5. 감사 로그 기록
+            // 5. 거래 이력 기록
+            $this->recordTransaction(
+                stock: $stock,
+                type: StockTransaction::TYPE_IN,
+                qty: $receiving->receiving_qty,
+                reason: StockTransaction::REASON_RECEIVING,
+                referenceType: 'receiving',
+                referenceId: $receiving->id,
+                lotNo: $receiving->lot_no,
+                stockLotId: $stockLot->id
+            );
+
+            // 6. 감사 로그 기록
             $this->logStockChange(
                 stock: $stock,
                 action: 'stock_increase',
@@ -448,7 +461,21 @@ public function decreaseFIFO(int $itemId, float $qty, string $reason, int $refer
             $stock->last_issue_date = now();
             $stock->save();
 
-            // 6. 감사 로그 기록
+            // 6. 거래 이력 기록 (LOT별)
+            foreach ($deductedLots as $dl) {
+                $this->recordTransaction(
+                    stock: $stock,
+                    type: StockTransaction::TYPE_OUT,
+                    qty: -$dl['deducted_qty'],
+                    reason: $reason,
+                    referenceType: $reason,
+                    referenceId: $referenceId,
+                    lotNo: $dl['lot_no'],
+                    stockLotId: $dl['lot_id']
+                );
+            }
+
+            // 7. 감사 로그 기록
             $this->logStockChange(
                 stock: $stock,
                 action: 'stock_decrease',
@@ -591,7 +618,21 @@ public function reserve(int $itemId, float $qty, int $orderId): void
             // 4. Stock 정보 갱신
             $stock->refreshFromLots();
 
-            // 5. 감사 로그 기록
+            // 5. 거래 이력 기록 (LOT별)
+            foreach ($reservedLots as $rl) {
+                $this->recordTransaction(
+                    stock: $stock,
+                    type: StockTransaction::TYPE_RESERVE,
+                    qty: $rl['reserved_qty'],
+                    reason: StockTransaction::REASON_ORDER_CONFIRM,
+                    referenceType: 'order',
+                    referenceId: $orderId,
+                    lotNo: $rl['lot_no'],
+                    stockLotId: $rl['lot_id']
+                );
+            }
+
+            // 6. 감사 로그 기록
             $this->logStockChange(
                 stock: $stock,
                 action: 'stock_reserve',
@@ -680,7 +721,21 @@ public function releaseReservation(int $itemId, float $qty, int $orderId): void
             // 3. Stock 정보 갱신
             $stock->refreshFromLots();
 
-            // 4. 감사 로그 기록
+            // 4. 거래 이력 기록 (LOT별)
+            foreach ($releasedLots as $rl) {
+                $this->recordTransaction(
+                    stock: $stock,
+                    type: StockTransaction::TYPE_RELEASE,
+                    qty: -$rl['released_qty'],
+                    reason: StockTransaction::REASON_ORDER_CANCEL,
+                    referenceType: 'order',
+                    referenceId: $orderId,
+                    lotNo: $rl['lot_no'],
+                    stockLotId: $rl['lot_id']
+                );
+            }
+
+            // 5. 감사 로그 기록
             $this->logStockChange(
                 stock: $stock,
                 action: 'stock_release',
@@ -839,7 +894,21 @@ public function decreaseForShipment(int $itemId, float $qty, int $shipmentId, ?i
             $stock->last_issue_date = now();
             $stock->save();
 
-            // 5. 감사 로그 기록
+            // 5. 거래 이력 기록 (LOT별)
+            foreach ($deductedLots as $dl) {
+                $this->recordTransaction(
+                    stock: $stock,
+                    type: StockTransaction::TYPE_OUT,
+                    qty: -$dl['deducted_qty'],
+                    reason: StockTransaction::REASON_SHIPMENT,
+                    referenceType: 'shipment',
+                    referenceId: $shipmentId,
+                    lotNo: $dl['lot_no'],
+                    stockLotId: $dl['lot_id']
+                );
+            }
+
+            // 6. 감사 로그 기록
             $this->logStockChange(
                 stock: $stock,
                 action: 'stock_decrease',
@@ -861,6 +930,58 @@ public function decreaseForShipment(int $itemId, float $qty, int $shipmentId, ?i
         });
     }
 
+    /**
+     * 재고 거래 이력 기록
+     *
+     * @param  Stock  $stock  재고
+     * @param  string  $type  거래유형 (IN, OUT, RESERVE, RELEASE)
+     * @param  float  $qty  변동 수량 (입고: 양수, 출고: 음수)
+     * @param  string  $reason  사유
+     * @param  string  $referenceType  참조 유형
+     * @param  int  $referenceId  참조 ID
+     * @param  string|null  $lotNo  LOT번호
+     * @param  int|null  $stockLotId  StockLot ID
+     * @param  string|null  $remark  비고
+     */
+    private function recordTransaction(
+        Stock $stock,
+        string $type,
+        float $qty,
+        string $reason,
+        string $referenceType,
+        int $referenceId,
+        ?string $lotNo = null,
+        ?int $stockLotId = null,
+        ?string $remark = null
+    ): void {
+        try {
+            StockTransaction::create([
+                'tenant_id' => $stock->tenant_id,
+                'stock_id' => $stock->id,
+                'stock_lot_id' => $stockLotId,
+                'type' => $type,
+                'qty' => $qty,
+                'balance_qty' => (float) $stock->stock_qty,
+                'reference_type' => $referenceType,
+                'reference_id' => $referenceId,
+                'lot_no' => $lotNo,
+                'reason' => $reason,
+                'remark' => $remark,
+                'item_code' => $stock->item_code,
+                'item_name' => $stock->item_name,
+                'created_by' => $this->apiUserId(),
+            ]);
+        } catch (\Exception $e) {
+            // 거래 이력 기록 실패는 비즈니스 로직에 영향을 주지 않음
+            Log::warning('Failed to record stock transaction', [
+                'stock_id' => $stock->id,
+                'type' => $type,
+                'qty' => $qty,
+                'error' => $e->getMessage(),
+            ]);
+        }
+    }
+
     /**
      * 재고 변경 감사 로그 기록
      */
diff --git a/database/migrations/2026_01_29_000001_create_stock_transactions_table.php b/database/migrations/2026_01_29_000001_create_stock_transactions_table.php
new file mode 100644
index 0000000..fa11f96
--- /dev/null
+++ b/database/migrations/2026_01_29_000001_create_stock_transactions_table.php
@@ -0,0 +1,69 @@
+<?php
+
+use Illuminate\Database\Migrations\Migration;
+use Illuminate\Database\Schema\Blueprint;
+use Illuminate\Support\Facades\Schema;
+
+/**
+ * 재고 입출고 거래 이력 테이블
+ *
+ * 모든 재고 변동을 스택으로 쌓아 이력 관리합니다.
+ * audit_logs와 별개로 재고 전용 거래 이력을 제공합니다.
+ */
+return new class extends Migration
+{
+    public function up(): void
+    {
+        Schema::create('stock_transactions', function (Blueprint $table) {
+            $table->id();
+            $table->unsignedBigInteger('tenant_id')->comment('테넌트 ID');
+
+            // 재고 참조
+            $table->unsignedBigInteger('stock_id')->comment('재고 ID');
+            $table->unsignedBigInteger('stock_lot_id')->nullable()->comment('LOT ID (입고/출고 시)');
+
+            // 거래 유형
+            $table->string('type', 20)->comment('거래유형: IN(입고), OUT(출고), RESERVE(예약), RELEASE(예약해제)');
+
+            // 수량
+            $table->decimal('qty', 15, 3)->comment('변동 수량 (양수: 증가, 음수: 감소)');
+            $table->decimal('balance_qty', 15, 3)->comment('거래 후 재고 잔량');
+
+            // 참조 정보 (다형성)
+            $table->string('reference_type', 50)->nullable()->comment('참조 유형: receiving, work_order, shipment, order');
+            $table->unsignedBigInteger('reference_id')->nullable()->comment('참조 ID');
+
+            // 상세 정보
+            $table->string('lot_no', 50)->nullable()->comment('LOT번호');
+            $table->string('reason', 50)->nullable()->comment('사유: receiving, work_order_input, shipment, order_confirm, order_cancel');
+            $table->string('remark', 500)->nullable()->comment('비고');
+
+            // 품목 스냅샷 (조회 성능용)
+            $table->string('item_code', 50)->comment('품목코드');
+            $table->string('item_name', 200)->comment('품목명');
+
+            // 감사 정보
+            $table->unsignedBigInteger('created_by')->nullable()->comment('생성자');
+            $table->timestamp('created_at')->useCurrent()->comment('생성일시');
+
+            // 인덱스
+            $table->index('tenant_id');
+            $table->index('stock_id');
+            $table->index('stock_lot_id');
+            $table->index('type');
+            $table->index('reference_type');
+            $table->index(['stock_id', 'created_at']);
+            $table->index(['tenant_id', 'item_code']);
+            $table->index(['tenant_id', 'type', 'created_at']);
+            $table->index(['reference_type', 'reference_id']);
+
+            // 외래키
+            $table->foreign('stock_id')->references('id')->on('stocks')->onDelete('cascade');
+        });
+    }
+
+    public function down(): void
+    {
+        Schema::dropIfExists('stock_transactions');
+    }
+};
\ No newline at end of file