How can you conduct a physical inventory count using an inventory management system?
A physical inventory count is a process of verifying the actual quantity and condition of the items stored in a warehouse. It is essential for maintaining accurate inventory records, preventing stockouts, detecting shrinkage, and complying with accounting and tax regulations. However, conducting a physical inventory count can be time-consuming, labor-intensive, and prone to human errors. That's why many warehouse managers use an inventory management system (IMS) to simplify and automate the process. An IMS is a software application that tracks, controls, and optimizes the inventory levels and movements in a warehouse. It can also integrate with other systems, such as barcode scanners, RFID readers, and ERP software, to facilitate data collection and analysis. In this article, we will explain how you can conduct a physical inventory count using an IMS in four steps.