Inventory management is effected by managing the accuracy of all inventory transactions and records. The company’s production system (this can be anything from a Microsoft Excel spreadsheet to a fully turn-key Enterprise Resource Planning (ERP) system) maintains the audit trail of all production inventory.
To this end, there are three areas to focus on, and these include Transaction Records, Physical Inventory, and Cycle Counting.
Cycle Count Worksheet —— SCM-8501-FMThis tool is used at the time of a Cycle Count to document the locations of product, the actual part number counts, and the production system count. |
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Cycle Count Analysis & Summary —— SCM-8502-FMThis tool is used to describe each Cycle Count, provide an analysis of the count, show adjustment needed, and obtain approval for the adjustment. |
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