What is a Cycle Count? The Importance and Benefits to Your Inventory Management
The terms stock take and cycle count are often confused and the difference is not well understood. An informative article from www.syspro.com looks at what cycle counts actually are and how they impact your inventory management.
“Traditional inventory audits or stock takes, involve counting all of the stock that the organization has on a particular date. Typically this is at the end of the year but can be monthly, depending upon the organization’s Stock Control Policy.
Which stock needs to be counted? All of it, everything the organization uses. Everything for Manufacturing, Engineering and anything else in the stores – Raw Materials, WIP, Consumables, Spare Parts, and Finished Goods, everything bought in.
This is a huge task but based on the value associated with all of this material, it must be done accurately.
Seems like we need a better and more accurate way of doing this because of the value associated with the stock… Cycle Counting is better and more accurate method…“
Read the article here: What is a Cycle Count? The Importance and Benefits to Your Inventory Management