Description
1. Objective:
Execute monthly inventory counts of specific part numbers throughout the entire warehouse within the company, determine the Inventory Accuracy Indicator in terms of location and total quantity, Accuracy by Part Number.
2. Methodology:
1. A physical count involves counting an SKU, an area, a subinventory, or the entire warehouse to verify reliability
2. Items selected for the sample must be counted with a specific frequency by inventory position with a regular scheduled count over a defined period, typically monthly
3. The theoretical (system) must be compared against the physical.
4. Discrepancies must be clarified or the inventory adjusted.
5. Conduct root cause analysis for discrepancies.
3. Deliverables:
Result of the count by selected part number at the end of the chosen period, regarding inventory accuracy, materials with high discrepancy percentages, and root cause analysis. Development of the manual inventory counting procedure.
4. Benefits:
✅ Regular counts provide the opportunity to quickly identify the results of established controls in warehouse processes
✅ Ensure that receiving, storage, picking, and shipping operations are performed correctly
✅ Meet the training needs of warehouse personnel
✅ Identify saturation or poor arrangement of materials
✅ Improve warehouse operational capacity and detect when it is exceeded
✅ Eliminate or control theft
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