"Cycle counting" is a method of inventory management where parts of the inventory are counted and verified regularly and at predefined intervals instead of conducting a one-time comprehensive inventory. This allows for continuous monitoring and updating of inventory levels, enabling quicker detection and resolution of shortages and errors.
Typical functions of software in the area of "cycle counting" include:
Cycle planning: Establishing schedules and intervals for conducting counts based on item categories, warehouse areas, or other criteria.
Count preparation: Preparing counting orders with the items to be counted, warehouse locations, and other relevant information for conducting the count.
Mobile capture: Support for mobile devices such as handheld scanners or tablets for capturing count data directly at the location, speeding up the process and reducing errors.
Automatic notifications: Triggering notifications to relevant staff when counts are due or completed to ensure that the process is conducted properly.
Reconciliation and verification: Comparing counted stock with expected stock in the software to identify and verify discrepancies.
Reporting and analysis: Providing reports on count results, discrepancies, and trends to offer insights into inventory accuracy and the efficiency of cycle counting.