Cycle Counting & Inventory Record Accuracy (IRA)

Overview:

In the purest form, Cycle Counting selects random SKU numbers, physically counts the stock, and reconciles the count with the corresponding inventory record. However, in most situations, this requires an enormous number of counts to obtain high accuracy. This program shows how to make Cycle Counting practical and how to measure the results.

Why you should Attend:

• Stockouts, lost customers, excess inventory
• Wasted time & effort on unnecessary cycle counts
• Reduce the cost and frustration of Physical Inventories
• Set up and operated Cycle Counting to replace physical inventories
• Find and eliminate the Root Causes of record errors
• Reduce transaction volume to cut costs and reduce new errors

Areas Covered in the Session:

• What Cycle Counting is and why it works
• The fundamental statistical principles that underlie cycle counting
• How do we determine the number of cycle counts per day and how many people are assigned?
• How do we measure progress and adjust your program as required
• Three ways to measure inventory accuracy and which to use for your situation
• How to find and fix the Root Causes of inventory errors

Who Will Benefit:

• Materials Managers
• Purchasing Personnel
• Warehouse Supervisors/Managers
• Supply Chain Managers/Personnel
• Accounting Managers/Personnel