How does cycle count help to maintain the accuracy of inventory?
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Shweta Pandit
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- Cycle counting is an inventory approach where part of the inventory is counted each day and eventually, the entire inventory is recorded over a span of time following a counting schedule. Any or all discrepancy immediately comes into notice via a scheduled cycle count, hence making the process of adjustment easier.
Although the process is labour and time-consuming, the advantages are such that the process is highly recommended. It is highly important to have a timely cycle count, specially in B2C operations. It is also a fine measure of the accuracy of the company’s inventory management system. The advantages can be summarised as :
Increased inventory accuracy
Better customer service
Reduced loss
Reduced errors in management system
Operational efficiency
Improved reporting