A Cycle Count is a physical count of inventory in your warehouse at a specified time. You may count only a portion of your warehouse's inventory or the entire inventory. A common cycle count occurs on a warehouse's entire inventory once a month. As a regular practice, it is important to count your inventory. A discrepancy between your physical warehouse inventory and the inventory within Infoplus is bound to occur due to human error within the warehouse over time.
Cycle counts are repeatable, and it is common practice to have a standard cycle in which inventory is counted. Fast moving items may be counted every month, or high value items may be counted every week. Different parts of your warehouse may be subject to different cycle counts.
Once you have completed this count and entered the information into an Excel spreadsheet, you can quickly create inventory adjustments in Infoplus. Use the Bulk Load Quick Adjustments tool to do this.
Customizing a Cycle Count
When you run the process to create a Cycle Count, consider the following:
- Splitting the work up into multiple batches (doing so will make it easier to assign to multiple individuals).
- Setting up an Auto Adjustment tolerance.
- Ex: For Warehouse A, if inventory levels are within 5% of what is expected, perform an inventory adjustment on the warehouse floor. Infoplus users will be prompted by the system if Infoplus is going to make an adjustment.
- A tolerance of '0' indicates that Infoplus will never automatically do an adjustment, instead the Cycle Count record will be flagged with a corresponding status.
Note: If you are doing your cycle counts at a time you have open pick work, there is a chance you will subject yourself to additional inventory discrepancies. Keep this in mind.