Physical Inventory Counts to Cycle Counts
Physical annual inventory counts are FRUSTRATING! No matter how hard your team tries inaccuracies are inevitable. Monitor your inventory as carefully as you’d like, but issues still arise due to many factors. Typically, human errors can be the leading cause when executing physical inventory cycle counts, but it’s not rare to discover there is a discrepancy between the numbers of actual items on hand and the number on record.
When inventory counting is inaccurate and facing discrepancies your company may be in some trouble. These problems tend to result in loss of sales, and out of stocks when it’s not true! To counter these issues inventory managers and company controllers implement inventory counting strategies and methods to minimize errors. One of the most popular strategies is cycle counting. The cycle counting method allows you complete inventory counts daily and it’s on going.
Let’s talk about the 5 ways automated inventory cycle counting could help your physical counts be accurate!
1 – Remove Physical Counts! Add Cycle Counts
Annual Physical Inventory Counts are tedious and time consuming as well as labor intensive! Doesn’t sound enjoyable does it? Also, physical counts tend to put your entire process on stand by and require over time. If you implement cycle counting on a regular basis you’ll diminish the need for an annual physical count or multiple physical counts in the year.
2 – Accurate Inventory Maintenance
Maintaining an accurate inventory will lead to increased customer service and less back orders! When having inaccurate stocks you’re risking alienated customers and loss of sales. Take control of your inventory to ensure your business continues to grow!
3 – Planning and Execution – Sounds EASY?
Day to day operations are never ending and can get chaotic, but try making the cycle count procedure part a daily routing. Planning and implementing an automated cycle count procedure will automate the planning and execution which will put you in spot to remove time limitations and physical count deadlines.
4 – Keeping the Inventory Organized
Messy inventory leads to inaccurate inventory, leads to loss of sales and makes physical and even cycle counts near impossible. Save your company the head ache and ensure that having an organized inventory is a crucial part of company standards.
5 – Budgeting for Growth
Automated inventory cycle counts will help you move forward with cycle counting, but as you grow you’ll need to make sure you’re sticking to your plans. Don’t overspend on resources for cycle counting, but understand that daily cycle counts will reduce errors and labor time. Ultimately, Automated Inventory Cycle Count will be an investment to reach a better ROI.
With some planning, organizing, daily cycle counting, and execution you can establish a strong procedure that will help your inventory stay accurate and up to date. CertiPro Solutions Automated Inventory Cycle Count was developed to generate the daily cycle counts based on inventory activity and priority. It helps eliminate yearly physical counts while you maintain accurate inventory.
Contact our sales team to get a free demo on how Automated Cycle Counts can help you get ROI while saving money!