Do you know where your inventory is at all times?
Many factors have to come together when optimizing supply chain to achieve organizational efficiency. One of the most critical factors is inventory accuracy, or the ability to know precisely where inventory is at all times, whether it’s in the warehouse, in the field or at remote locations.
This need for accurate inventory counts and solutions that deliver as a fully integrated NetSuite App is why NXTurn has chosen to partner with DSI Global. We believe a powerful cycle counting system is crucial to empowering organizations to give customers the products they want when they want it, at the time and location most convenient to them.
Using an inefficient cycle-counting system runs the risk of creating a misplaced inventory and unhappy customers. If your system tells you a piece of inventory is in Aisle 4 Bay 17 Position 1, but it’s really in Aisle 4 Bay 07 Position 1 (or maybe not in the warehouse at all!), you’ve wasted time searching for the product. Delays in locating products cause delays in the customer receiving their orders. Issues like this result in customer dissatisfaction—and potentially missed future business opportunities.
To resolve these inventory accuracy challenges, incorporating efficient cycle-count process into your organization is an effective strategy. Not performing cycle counts can be costly for businesses; physical cycle counts often require operations to shut down, which can mean lost revenue. Unenthused workers likely will need to come in on the weekends, risking a time-consuming, rushed and inaccurate count.
Eliminate the need for physlical inventory counts.
Many companies implement a regimented cycle-counting program to ensure accurate levels of inventory. Cycle counts can be performed in a number of different ways:
- ABC code counting: A-type items may be counted every 30 days, B-type items counted every 60 days, and C-type items are counted every 90 days.
- Location counting: locations within a given location range are counted every X number of days.
- Triggered counts: triggered when a location’s balance falls below a certain threshold to help gain a better inventory accuracy throughout the year rather than one physical inventory count a year.
Investing in a cloud-based efficient cycle-count system does more to eliminate the need to perform physical inventory counts; it provides an accurate view into inventory at every location across the business, decreases the time from stock to dock and optimizes the use of company resources.
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