Physical Inventory and Cycle Counting Workshop
Learn Best Practices for Managing Inventories and Cycle Counts
In this Inventory Control and Cycle Counting Workshop you learn to maintain inventory counts that increase purchasing and production efficiency. We have designed this training to help you Organize, Regulate and Tighten Inventory Control to overcome your toughest inventory warehousing challenges.
Most U.S. companies have approximately 30% of their assets tied up in consumable inventory. Without proper methods in place to account for the movement and sales, or use of these goods, write-offs against the bottom line profits will occur. This seminar will help you analyze current inventory practices and develop a plan for the taking of physical inventories and cycle counts of consumable products (not fixed assets).
Participants in this training session learn to apply best practices to better manage the inventory control and cycle counting processes. They learn to identify and correct problem areas in your inventory management systems and set up cycle counts to achieve over 95% accuracy in your inventory records.
Plus, participants discover training techniques to better to train the cycle counting team, keep paperwork under control, and timesaving tips to get the job done in less time!
Accurate Inventory Records are critical to production scheduling, sales, forecasting, purchasing, and maintaining high levels of productivity. In fact, in today’s business environment, inventory control can be the key difference between a positive cash flow and red ink.
Let’s face it; conducting an error-free physical inventory is no easy task. Our Inventory Control Professionals help you avoid inventory inaccuracies that can lead to back orders, overstocks, stockpiled obsolete items, higher costs, and other inventory headaches.
Our expert facilitators will tailor the program to the specifics of your situation and the participants.
This highly interactive seminar includes hands-on exercises and provides participants with valuable information and practical tools to improve inventory control and cycle counting processes. By the end of this training, participants will be able to immediately apply the strategies and techniques they have learned.
Participants will be introduced to the fundamental and basic aspects of supply chain management, including basic resource planning systems, the interrelationships between purchasing, vendor selection, sources of supply, and the role of technology. Everyone will leave with a better understanding of an integrated approach to planning, acquisition, flow and distribution from raw materials to finished products.
Who Should Attend
This interactive training is designed for: Accounting personnel, business owners, storeroom and warehouse workers, inventory personnel and anyone who is responsible for or takes part in the taking of physical inventories.
- Apply techniques to actually improve speed and accuracy when counting inventory
- Distinguish updated time-saving techniques, formulas and checklists
- Verify that proper inventory controls and cycle counting best practices are used
- Carry out smooth and accurate inventories
- Evaluate inventory record accuracy
- Recognize and eliminate inventory write-offs and shortages
Overview of Concepts and Deliverables Provided
- Recognize why inventory record accuracy is important
- Identify four advantages of having an accurate inventory system
- Recognize how to reduce forecasting errors
- Evaluate your inventory system strengths and weaknesses
- Identify four ways to calculate inventory accuracy
- Recall five areas that create the biggest problem in a physical count
- Discover how to establish an inventory planning and preparation timetable
- Design a simple and consistent location system
- Determine how to increase count efficiency
- Recognize the physical inventory
- Training employees on how to do counts the “right” way
- Organizing the count
- Identify ten problems with annual physical inventories and how to avoid them
- Determine how to motivate your counters and workers
- Explore using count teams for speed and accuracy
- Propose coping with ongoing transactions
- Recognize how to conduct an ABC analysis of your inventory
- Distinguish four phases to implement cycle counting
- Determine how to analyze inventory and cycle counting results and set realistic goals
- Determine how to tighten record-keeping procedures and ensure other departments use them
- Organize tracking of corrective action activities
To receive more information about this training call toll free at 877-385-5515.