Physical Inventory

This workshop will discuss what works and what doesn't as the participant learns the essential preparation steps and activities to perform in advance. These activities include everything from cleanup and sorting to working with auditors. The best physical inventories require the best, most thorough, preparation. The participant will also learn how to keep the physical inventory under control once it starts. From tracking of tags to weigh scales and facility maps to handling recounts, this course guides the way.

 

Workshop Objectives

After completion of this course you will be able to

·         List areas that require preparation

·         List preparations for those areas

·         Define criteria for control of inventory tags

·         Properly prepare counters

·         Properly reconcile count discrepancies

·         Effectively work with auditors

·         Complete and close a physical inventory

 

Workshop Topics

·         Definition

·         Preparing for a Physical Inventory

·         Conducting the Physical Inventory

·         Reconciling Differences

·         Reporting Results

·         Tricks, Traps, Problems, and Solutions