What is the difference between typical cycle counting and total inventory cycle counting?
A company can significantly improve the accuracy of its inventory quantities and financial reporting by tracking and monitoring inventory on a regular and structured basis.Consistent management oversight will keep employees honest and reduce theft and other forms of shrinkage.It leads to more informed decisions about reorder points, out-of-stock inventory, and excess inventory. It can assist in locating items and departments with high discrepancies and determining the cause in time to save thousands of dollars in lost profit.
For the reasons stated above, a typical cycle count is valuable. However, it is frequently too burdensome and costly to pay staffers overtime to conduct a full audit or to lose money by shutting down for each cycle. Employees also lack the necessary experience, training, and data collection equipment to produce optimal results and meet your goals.
As a result, the primary advantage of a total inventory cycle count is that you obtain accurate data on ALL merchandise at the same time. Typical cycle counts provide an incomplete picture and a snapshot of a small portion of the overall inventory. Most businesses aim to count the top 20% of their total supplies within a year. Many items lost to theft, waste, mistakes, or mis-mangement may be detected too late to prevent thousands of dollars in lost profit, depending on the frequency, totality, and consistency of your cycle counts.
We can perform standard cycle counts on select vendor lines or a full inventory audit while your business is open with no or little assistance from your staff. They can go about their normal business while we work. We also work on weekends and offer a variety of large discounts based on your cycle frequency. Employee theft accounts for 70% to 84% of all company losses. Better results will be obtained by trained, objective, professional auditors who use cutting-edge technology and have nothing to hide.
Quality Control Reports
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