Quality Control Reports
Typical cycle counting vs Total inventory cycle counting?
By tracking and monitoring inventory on a frequent & structured basis a company can significantly improve the accuracy of its inventory quantities and financial reporting. Consistent monitoring by management will keep employees honest and reduce theft & other forms of shrink. It results in better decision making about reorder points, out of stock inventory and excess inventory. It can help you to locate items & depts of high discrepancy and then determine the cause in time to prevent thousands of dollars in lost profit.
A typical cycle count has value for the reasons described above. However, It is often too burdensome and costly depending on the size of your inventory to pay overtime to staffers to do a full audit or lose money to shut-down for a few days every cycle. Also employees often lack the experience, training and data collection equipment to produce ideal results and meet your objectives.
Subsequently the primary benefit of a total inventory cycle count is that you get accurate data on ALL merchandise recorded within your perpetual software system and at the same time. Typical cycle counts give an incomplete picture and only a snapshot on a sampling and very small amount of the inventory overall. Many businesses strive to count within the year the top 20% of their overall supplies. Depending on the frequency, totality and consistency of your cycle counts many items & dollars lost to theft, waste, mistakes or mismangement may not be detected or detected too late to prevent thousands of dollars in lost profit.
We can perform typical cycle counts on select vendor lines or a complete inventory audit per cycle while you are open for business with no or minimal assistance from your staff. They can continue with their normal duties while we work. We also work on weekends & offer a variety of large discounts based on the frequency of your cycle that make our services affordable. 70%-84% of company losses are due to employee theft. Trained, objective, professional auditors with state of the art inventory equipment & nothing to hide will get better results.
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