Inventory Count is the process of verifying the quantity and condition of items in stock to ensure accurate recordkeeping. This process flowchart outlines the steps and procedures involved in tracking inventory levels and reporting discrepancies.
Step One: Create an Inventory Checklist
Gather all items that need to be counted and document them by creating a checklist.
Step Two: Physical Counts
Physically inspect all items on the list and mark off any items already accounted for.
Step Three: Record Results
Carefully log each item’s location, serial number (if expressed), and quantity.
Step Four: Quality Control
Take a snapshot of the findings to compare against reports from previous cycles. Perform follow-up inspections as needed.
Step Five: Verify Inventories
Cross-reference your results against company records and make corrections as needed.
Step Six: Report Discrepancies
Document any discrepancies or errors in order to inform future assessments.
By following this step-by-step Inventory Count Process Flow Chart, businesses can ensure accuracy in their inventories and avoid issues with lost or overstocked products.