INVENTORY CYCLE COUNTING
What You’ll Learn…
- What is Cycle Counting ?
- Benefits of Cycle Counting
- How to design a Cycle Count process
- How to justify spending time implementing Inventory Cycle Counting in your Business
What You’ll Get…
1. A self study guide - 8-10 pages explaining what is Inventory Cycle Counting
2. A comprehensive spreadsheet - enabling a Cycle Count design
3. A professional video - explaining 'how to use" the inventory spreadsheet
Our approach to training is entirely new. There is nothing like it on the internet.
What The Spreadsheet Will Enable You To Do…
- Enable you to enter your own data
- Create and print a cycle count sheet based on your data
- Enter results of a inventory cycle count
- Enable inventory cycle count analysis in detail
- Provide inventory accuracy analysis and KPI's
- Provide reason codes for Inventory inaccuracy analysis
In modern companies, inventory accuracy is one of the most important aspects of running a profitable business. When the records aren’t right, it can lead to all sorts of catastrophic results including increased costs, reduced productivity, and severely diminished customer satisfaction.
It doesn’t have to be this way. A more accurate method of keeping inventory accurate, inventory cycle counting, helps eliminate all the problems associated with inaccurate records and lets companies achieve inventory accuracy of 97% or better!
Ask yourself the following questions:
- Do you sometimes have trouble finding parts or items that your company claims you have on hand?
- Do you frequently find yourself expediting orders on items to ensure that your stock doesn’t run out?
- Do you feel as if your company wastes time searching for and handling physical product, and that this could and should be a more efficient activity?
- Do you find that your company holds an excessive amount of safety stock for some items, resulting in unnecessary holding costs?
- Do you find people ask the question "What is Cycle Counting"
If you answered yes to any of these, it’s clear you’re suffering from the side effects of inaccurate record keeping. By implementing inventory cycle counting into your corporate processes you can painlessly overcome these problems and redefine your gloomy perspective on inventory as a whole.
What is Inventory Cycle Counting?
It’s an alternative to the usual way in which inventory is conducted. Instead of conducting a taxing yearly physical count of all the items in your store and warehouse, you conduct daily or weekly counts on some of the items, such that all items you have are continuously counted, several times a year.
A more detailed definition of inventory cycle counting is offered up by the American Production and Inventory Control Society’s online dictionary: “an inventory accuracy audit technique where inventory is counted on a cycle schedule rather than once a year. A cycle inventory count is usually taken on a regular, defined basis (often more frequently for high value or fast moving items and less frequently for low value or slow moving items). The key purpose of cycle counting is to identify the items in error, thus trigger research, identification, and elimination of the causes of the errors.”
Thus, the true power of cycle counting is made apparent: it provides not just a more accurate way of counting inventory, but also a method by which you can identify the underlying problems that lead to inaccuracy and put a permanent stop to them.
Set your CAREER on a new path - EDUCATE yourself – BUY now - A$39