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What are the most effective cycle counting techniques for stock management?

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Cycle counting is a method of inventory management that involves regularly verifying the accuracy of stock records by physically counting a portion of the inventory. Cycle counting can help you reduce errors, optimize inventory levels, and improve customer satisfaction. But how do you choose the most effective cycle counting techniques for your business? Here are some factors to consider and some common methods to apply.

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Austin Sergent

Retail Supervisor

1 Inventory value

One way to prioritize cycle counting is based on the value of your inventory items. You can use the ABC analysis to classify your items into three categories: A for high-value, low-quantity items; B for medium-value, medium-quantity items; and C for low-value, high-quantity items. Then, you can assign different counting frequencies and procedures for each category. For example, you can count A items more often and more accurately than B or C items, since they have a greater impact on your profitability and cash flow.

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José Lima

Logistics & Printing Professional
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Value is a BIG thing for cycle counts. You don't want to maintain one product for too long that is value drops due to changes. It's horrible when you have an item that originally cost more 3 months ago and will now need to sell at half its value. Keeping a cycle count monthly helps reduce the risk of value depreciation. Another point is watch price fluctuations to maintain a good amount of inventory always at hand.

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Ajit Pawar CSA

Deputy Manager SLP | Reliance | Amazon | Physical-Corporate Security | Experienced Team Leader | Auditor | Investigator | Guardian of Assets & Process Compliance | Risk Mitigation | Retail | Hospitality | B2B & B2C CSCM
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1. ABC Analysis: Prioritize items based on value for targeted counting. 2. Random Sampling: Randomly select items for unpredictability and thorough coverage. 3. High-Frequency Counts: Frequent checks for high-demand items, reducing errors. 4. Velocity-Based Counts: Focus on fast-moving items for precision. 5. Cross-Functional Teams: Involve diverse teams with varied perspectives. 6. Technology Integration: Implement tech for accuracy and efficiency. 7. Root Cause Analysis: Identify and address underlying issues. 8. Supplier Collaboration: Work closely with suppliers for real-time updates. 9. Continuous Improvement: Regularly refine processes for ongoing efficiency. 10. Data Analytics: Leverage analytics for insightful decision-making.

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2 Inventory movement

Another way to prioritize cycle counting is based on the movement or turnover of your inventory items. You can use the Pareto principle or the 80/20 rule to identify the items that account for 80% of your sales or demand. These are your fast-moving or high-demand items, and they should be counted more frequently and carefully than your slow-moving or low-demand items. By focusing on the items that generate most of your revenue and customer satisfaction, you can ensure that your stock levels are accurate and adequate.

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José Lima

Logistics & Printing Professional
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In my experience, I've tried to move old inventory out as new comes in, this avoids value loss, possible expiration and fresh products on the floor at all times. Also find useful to promote obsolete products before they drop in value due to poor movement or popularity. This helps keep stock moving and value from becoming a loss.

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3 Inventory location

A third way to prioritize cycle counting is based on the location or zone of your inventory items. You can divide your warehouse or storage area into different zones according to the size, type, or function of your items. Then, you can assign different counting schedules and teams for each zone. For example, you can count the zones that are more accessible or visible more often than the zones that are less accessible or visible, since they are more prone to errors or discrepancies.

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José Lima

Logistics & Printing Professional
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I for one am big on location. It's horrible looking for something and not knowing it's place. Keeping one type of item grouped in the same location and having a map (depending on size of storage warehouse area) helps find everything quick and simple. This will help when cycle counts are made by eliminating the search for inventory and possible discrepancies from occurring.

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Sheikh Muhammad Danial

Supply Chain Operations | MNCs & Startups
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When it comes to effective cycle counting, considering the physical location of inventory is key. Imagine breaking down your warehouse into zones based on size, type, or function of items. To execute this strategy, create a schedule dividing total locations over time, with hourly item counting targets. This ensures systematic resource allocation for cycle counting. The goal is to count more accessible or visible zones more frequently, aligning schedules with the nuances of inventory location. In my opinion, pre-planning with a comprehensive table enhances efficiency, accuracy, and overall effectiveness in stock management.

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4 Inventory variance

A fourth way to prioritize cycle counting is based on the variance or difference between your stock records and your physical counts. You can use the cycle count adjustment report to track the frequency and magnitude of errors or adjustments for each item or category. Then, you can assign different counting actions and corrective measures for each item or category. For example, you can count the items or categories that have high variance or adjustment rates more often and more thoroughly than the items or categories that have low variance or adjustment rates, since they indicate a problem with your inventory system or process.

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José Lima

Logistics & Printing Professional
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For me a variance only shows the movement of products, this assists in the purchasing and replenishment side to maintain the faster moving from falling short and the noventa of the slower to become more promoted to move.

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5 Inventory optimization

A fifth way to prioritize cycle counting is based on the optimization or improvement of your inventory performance. You can use the inventory turnover ratio or the days inventory outstanding to measure how efficiently you are using your inventory resources. Then, you can assign different counting goals and benchmarks for each item or category. For example, you can count the items or categories that have low turnover or high inventory days more often and more strategically than the items or categories that have high turnover or low inventory days, since they represent an opportunity to reduce your inventory costs and increase your cash flow.

Cycle counting is a powerful tool for stock management, but it requires careful planning and execution. By choosing the most effective cycle counting techniques for your business, you can enhance your inventory accuracy, efficiency, and profitability.

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Austin Sergent

Retail Supervisor
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Cycle counts are amazing for a more immediate variance tracking solution vs full inventory audits. Counting a few FOH categories (I.e. sellable units) before sales begin gives you a great idea how things went the previous night for your team and if you need to address any specific coaching opportunities or variances discovered; and the same for BOH (reserve units) this creates an opportunity to evaluate the inventory team’s accuracy along with vendor accuracy. To sum it up, cycle counting is one of the most effective inventory methods I’ve used in a retail space for variance tracking; having a good count schedule and variance tracker sheets with adjustment notes is also critical to help keep cycle counting more accurate and reliable.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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What are the most effective cycle counting techniques for stock management?

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2

3

4

5

6

1 Inventory value

2 Inventory movement

3 Inventory location

4 Inventory variance

5 Inventory optimization

6 Here’s what else to consider

Inventory Management

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What are the most effective cycle counting techniques for stock management?

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6

1 Inventory value

2 Inventory movement

3 Inventory location

4 Inventory variance

5 Inventory optimization

6 Here’s what else to consider

Inventory Management

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