How to Conduct Annual Stock Count
The annual stock count is a valuable tool to reconcile what the books (or computer screen) say you have on hand versus what is actually located on the shelves or in the stockroom. It is a necessary yet tedious process. Fortunately, with a little bit of preparation and enough able bodies, the process shouldn't take too long or interrupt primary business functions too much.
Other People Are Reading
Instructions
-
-
1
Plan ahead for the amount of people and time needed to complete this annual stock count. The more stock that needs to be counted, the more people and time it takes to complete the count.
-
2
Print out all the inventory preferably by location with quantities of each unique item listed. Leave a space for the counter to write in their counts and any notes or questions that may arise.
-
-
3
Assemble counters instructing them on the importance of accuracy and how to fill out the stock count sheets. Divide them up by locations so everyone can stay busy without getting into each other's way.
-
4
Review the quantities that are written in by the counters versus what is in the system for each stock item. Note the items whose quantities don't match.
-
5
Designate someone to recount a sampling of stock items that have just been counted. Determine the accuracy you wish to have for your annual stock count. If the sample recount shows too many inaccuracies, do a total recount.
-
6
Update your numbers in your stock tracking system once you are satisfied with your annual stock count, so that it matches what is currently on hand.
-
1
Tips & Warnings
Try to get rid of any discrepant stock before the annual stock count by either returning damaged items or getting items repaired.
Designate an area for all mislabeled or misplaced items that are found during the annual stock count and resolve after the count is completed.
Implementing cycle counts throughout the year could reduce the inaccuracies that occur in the annual stock count.
Plan to do the stock count during a slow time or off hours of the primary business function. Avoid any changes to the stock while the count is occurring, if possible.
References
- Photo Credit rayonnage de magasin de bricolage image by Nath Photos from Fotolia.com
