Cycle counts are a business process used to regularly count product stock on hand to ensure accurate inventory records. They involve counting a limited number of items in a given inventory location at intervals and then comparing the actual quantity with the system-recorded quantity. This helps refine estimated stock levels and reduces reconciling inaccuracies with physical inventories. The cycle count process is an essential element of efficient, cost-effective inventory management that can help businesses conserve time, money, effort, and resources.