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Inventory Counting

Inventory Counting

  • At periodic and defined intervals, the inventory is counted to reconcile the inventory records as a way to assure that the system shows an accurate depiction of what is actually in stock. 
  • This is usually done either by counting the entire inventory at the same time (called a physical inventory) or by counting the total number of items at varying times on a prescheduled basis (called cycle counting).

Types of Inventory Counting

  • Cycle counting

Cycle counting is about counting in cycles. You do not count your full inventory at once but do it in parts. 

  • Ad-hoc counting

Ad-hoc counting is initiated by the user and is usually not planned, meaning this counting is quite handy in extraordinary situations. 

  • Tag counting

In preparation for tag counting, the store/warehouse employees should place a physical tag on each item. During counting, the worker must fill in the item ID, counted quantity, and other relevant information on the designated spaces on the tag.