Cycle Counting

In this workshop, the participants will learn how to implement or improve a cycle counting program and what the real purpose of cycle counting is: finding and fixing the causes of inventory errors. Also included are several methods for selecting items to count, using correct accounting techniques, and reconciling any outstanding transactions. In addition, the participant will learn various reporting methods to illustrate the results of the cycle counting program to employees and management.

 

Workshop Objectives

After completion of this workshop you will be able to

·         List the true purpose of cycle counting

·         Perform an ABC analysis of your inventory

·         List at least five benefits of cycle counting

·         Correctly define a “control group” and its use

·         List at least six common causes for inventory errors.

 

Workshop Topics

·         What Is Cycle Counting?

·         Benefits of Cycle Counting

·         Requirements

·         Deciding What to Count and When

·         Reconciling Differences

·         Reporting Results

·         Performance Check