Director of Marketing, SortlyShahzad Karachiwala
An inventory cycle count makes it easier for businesses to achieve and maintain accurate inventory lists. And accuracy improves operations and saves time and money. So, what exactly is an inventory cycle count… and how can your company implement one? Read on to find out!
An inventory cycle count is an inventory strategy in which specific, defined portions of inventory are counted on a rotating, recurrent schedule. The schedule specifies exactly when each portion of inventory will be counted. This method spreads the count of inventory throughout the year (or another length of time), so you don’t have to to do it all at once.
Instead of auditing your entire inventory annually, you can schedule daily or weekly inventory counts of small groups of items. Although you can count and track stock on a spreadsheet, inventory management software that uses QR codes or barcodes to simplify the process and increase accuracy.
Inventory cycle counts improve business processes in many ways. Consider three benefits.
Instead of scheduling long annual counts of your inventory, cycle counts require smaller time increments and combat the monotony of extended inventory audits. That means you probably won’t have to shut down your store or ask employees to ignore their regular work just to take inventory. Everything is manageable!
Plus, frequent counts make it easier to identify lost, damaged, or stolen items in a large warehouse inventory.
You’ll also save money with an inventory cycle count. Annual counts often require overtime hours (and closed stores!) to complete a full count of all items in your jewelry or HVAC inventory, for example. It’s cost-effective to set aside daily or weekly increments of time for counting groups of items.
An inventory cycle count maintains accuracy and improves efficiency in a variety of areas.
While cycle counts improve accuracy and save time, an automated inventory system accelerates the process even further. The software uses barcodes or QR codes to track inventory. It makes cycle counts easier, faster, and more accurate than manual processes and spreadsheets.
Sortly is user-friendly, easy-to-learn inventory management software. Its features help you implement and sustain cycle counts quickly:
Get started today with a free trial of Sortly.