Inventory management is a key part of running a warehouse. It helps you keep control over the goods in your warehouse, which have a direct affect on your bottom line. If too many of those items go missing, you can’t fulfill a customer order, keep up with ordering new supplies, and have to write off a good chunk of your profit to loss. Keeping track of the inventory on your industrial shelves has become easier over the years thanks to automatic systems, barcoding, and consistent inventory counts. But with all of these advances in the warehouse, how often should you be counting your inventory?
The Yearly Option
Many businesses choose to do an annual inventory at the beginning or end of the year to make adjustments in their computer system and start with a fresh inventory count. This can be good for a smaller warehouse that doesn’t have a great deal of merchandise on their industrial shelves.
Periodic Counts
Some businesses may choose to do inventory counts on a monthly, weekly, or even a daily basis. This is a good option if you have a number of expensive products that need to be accounted for or if you have variable inventory that might need correction based on use throughout the day. Keep in mind that counting inventory more often takes manpower away from other jobs, making it expensive, so make sure it’s worth the cost.
Perpetual Systems
These systems are the computerized systems used by many warehouses that track sales and order fulfillment to automatically deduct inventory from the system. You’ll still want to do an occasional inventory count, though, in order to ensure that your computerised records are accurate. Don’t take them for granted and instead use them as a guide for what should be on your industrial shelves.
