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Cycle Counting for Inventory Records Accuracy: The Foundation to Effective Inventory Management (TNS173N)

Presented by: Charles Intrieri
(*) Single User Price. For multiple users please call 1-844-384-4744
Pre Recorded Webinar
60 minutes
Event Description
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Improve Your Inventory Records Accuracy to Manage Inventories Effectively

First, above all, remember: Inventory is money: Not boxes, pallets, and part or SKU numbers. MONEY! Inventory records accuracy is the foundation of an effective Inventory Management program. If you do not cycle count daily and investigate root causes for any discrepancies: Warehouse on hand count to compute on hand count, for an accuracy level of 98-100% daily, you will need to take a ‘Wall-to-wall’ physical inventory to get a base point.

After reconciling your Physical Inventory, you can begin cycle counting daily using A, B, C and D priority Stock Keeping Units (SKUs). When you find errors: Warehouse Count does not equal Computer count you have to investigate the root cause of the error using the transaction detail in your Warehouse Management System (WMS). If you have a WMS system or any computer Inventory System, you can use the in-out-Alance card manual accounting method. The daily goal is 98-100% Inventory Records Accuracy.

Do you have a Warehouse Management System (WMS) or stand-alone Inventory System? People must learn how to cycle count via cycle counting education. You must find the root cause of errors: Warehouse on-hand count to computer on hand count. If you do not have any computers, use the In-Out-Balance Manual Card Inventory Accounting System. Do not just change numbers to match; find the root cause of the discrepancy; on hand warehouse count differs from the computer count. When you find a root cause, eliminate it by writing a Standard Operating Procedure. The Inventory/Warehouse Manager must sign off on any changes to the Inventory System before changes are made.

Inventory records accuracy aid in the elimination of the Wall-to-wall Physical Inventory, which is labor intense, cumbersome and prone to errors.In this session by expert speaker Charles Intrieri, learn to educate yourself on inventory management. Recognize the value of Daily Cycle Counting for Inventory Records Accuracy and get expert insights on inventory management.

Session Highlights:

  • Cycle Count for Inventory Records Accuracy: goal: 98-100% accuracy daily.
  • Several common misconceptions, such as: Only do a Physical Inventory Weekly, Monthly or Quarterly.
  • Cost savings of a consistent, long term, 98-100% daily Inventory Records accuracy cycle counting.
  • How to create Cost Savings by Cycle counting.

Who Should Attend

  • CEO
  • COO
  • CFO
  • VP
  • Directors
  • Inventory and Warehouse/Distribution Managers
  • Warehouse/Distributor associates
  • Tool Room/Crib Managers/Associates
  • Manufacturing personnel
  • Computer/Software Sales people
  • Retail Store Owners
  • Managers
  • Receiving, Inventory Personnel
  • Everyone in food industry
About Our Speaker(s)

Charles Intrieri | Transportation & Logistics SpeakerCharles Intrieri
Charles Intrieri is an Inventory/Warehouse Consultant and Cal Poly Small Business Development Consultant to many startup companies. He specializes in inventory management/software, lean process improvement, sales, marketing, manufacturing and operations management. Charles has over 20 years of manufacturing experience ... More info

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    Event Title: Cycle Counting for Inventory Records Accuracy: The Foundation to Effective Inventory Management
    Presenter(s): Charles Intrieri

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