Perform manual physical inventories and cycle counts to collect a baseline of your inventory, and to then ensure that your inventory stays accurate and up-to-date in the system.
Note: Although you can use RF Warehouse Management to count products during your business day, we recommend that you perform a manual count when your business is closed. Plan on counting your inventory between the time you close for business on one day and re-open for business on the next day.
A full physical inventory is a count of all inventory items at your branch. This count provides a baseline for all items in your warehouse, including their location and quantity as of the count date.
Unlike a cycle count, a physical inventory count involves all products at a branch at once. Companies only conduct full physical inventories on an annual or semi-annual basis because of the preparation, effort, and number of products involved.
A cycle count verifies that the on-hand quantities for selected inventory items are accurate at your branch.
Unlike a full physical inventory, a cycle count involves a selection of products at a branch. Companies cycle count inventory on a daily basis because it requires less effort and involves fewer products.
The basic process of counting inventory, whether for a manual physical inventory or cycle count, is as follows:
Count the items.
Use additional counting utilities to aid in the count entry process, capture inventory costs, and re-verify that counts are accurate.
Click here for a printable version of the Inventory Counting and Adjustments documentation.
See Also:
Count Sheets and Count Cards Overview
Counting Recommendations and Guidelines Overview
Entering Inventory Counts Overview
Count Variance Report Overview
Updating On-Hand Quantities Overview
Cycle Counting Specific Utilities Overview