Benefits of Inventory Cycle Counts
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Limit the amount of disruption within your warehouse
Cycle counts can be done during down-time and do not necessitate closing or disrupting regular business. As cycle counts are for smaller subsets of inventory, use those quiet times to tackle the count (early one morning per week or if you never see a living soul in the shop between 1 pm and 3 pm). In addition, problems and discrepancies are more easily spotted and corrected. This saves you labor costs and hours of time.
Increase confidence in buying decisions
When you implement ongoing cycle counts, you’re forced to continuously assess your inventory. By having smaller check-ins, focusing on a subset of inventory, your buying decisions are more informed and targeted. You can focus on just one area of your business, so use the opportunity to not only count, but make decisions about that subset of your business.
By shortening the time between counts, you are decreasing the amount of time an error could have been made. It will also help you identify loss patterns and even have a more precise idea of when a theft occurred.
Maintain focus and keep inventory as a priority
Inventory can often be the most frustrating part of owning a retail business. Implementing smaller cycle counts allows your entire team to see your stock accuracy as a vital part of your business. Now you can transfer merchandise between stores to optimizing the inventory mix at each store, having the stock available for sales of exactly what the customers are looking for. Employees and customers will feel more confident about the business decisions you’re making.
Real time accurate visibility into your inventory allows for greater productivity. For example, if a customer wants a particular item, you can quickly and easily locate it, without having to purchase another item and wasting your customer’s time and losing their confidence.
Understanding product movement can also enhance your sales. For example, if a product line performs better than expected, you can expand your supply of those items.
It gives you an excuse to clean up
When you’re rifling through your merchandise more often, it provides a perfect opportunity to dust things off and keep your displays sharp.