Annual Physical Inventory Thoughts and Tips

Transcript:Annual Physical Inventory Thoughts and Tips:
Annual Physical Inventory Thoughts and Tips Sections of this Thoughts and Tips Document Slide 3 - Overall Inventory Process Slide 13 - BSIP Slide 17 - Count Review Slide 24 - Fix Count Problems (Before Posting the Count) Slide 28 - Fix Count Problems (After Posting the Count) On Overall Inventory Process What to count first? Count and get Service Trucks right first From an accountability perspective it is best if a truck is counted by someone other than the person whose truck it is Make the trucks right using a combination of tactics Reclaim overstock Restock an item that is short MIGO to transfer parts to and from the truck storage location Inventory Count Adjustments Incorrect trucks may be making your main storage location wrong, but it is also possible that making the truck correct will pass the inventory problem to your main storage location. Stay aware of where problems are coming from Can give an early look at accountability of the technicians Tackle Main Inventory Second If you don’t, it’s easy to make a lot of inventory adjustments up in one storage location and down in another (depending on everyday processes) Word of Caution Inventory is simplest when nothing is moving Allowing parts to move in the parts room while counting is occurring is tricky but manageable A special procedure which accounts for the parts that moved during inventory counting is recommended Allowing parts to move and work to be done in BSIP while counting inventory is an extremely delicate balance For that reason it is recommended that the posting block be set, or that all data entry personnel cease all actions related to parts For future reference it will be assumed this action is taken. If it is not, then various aspects talked about throughout this presentation will change and become more conditional Additional Assumption: Stock on service trucks is indicated as such in various BSIP storage locations. If it is not, any recounting becomes more complex as it must include recounting of all locations (various other aspects of inventory also become slightly different) Terminology Book Count – The count that BSIP believes should be on hand at the time the inventory count (count quantity) is entered. It is determined by BSIP when the first official count for the item is saved Count Quantity – The count that the user reports is on hand at the time