What is stock take in inventory control and what is the process flow involve in the stock take?
23/Feb/2024
Introduction
Stock take, also known as physical inventory count or inventory quantity audit, is a important process in inventory control that involves physically counting and verifying the quantity of items on hand in a warehouse or storage location compare again AGen database. The goal of stock take is to ensure the accuracy of the recorded inventory levels and identify any discrepancies between the physical count and the system records. Normally this action is performed monthly by the storekeeper or some customer of AGen perform daily base on segment defined by the store manager.
Process flow involve in the AGen stock take process as below:
Planning:
Determine the frequency of stock take (e.g., annually, quarterly, monthly, weekly or daily) and plan the schedule to minimize disruption to normal operations. Notify relevant staff members about the upcoming stock take and assign responsibilities.
Preparation:
Prepare a detailed stock take plan, including the areas or specific items to be counted. Allocate resources, such as personnel and equipment, for the stock take. Ensure that all necessary tools, such as mobile computer, and clipboards, are available.
Scan and Counting:
Physically scan and count the items in the designated areas according to the stock take plan. Use mobile computer to scan the item barcode then enter the physical counted quantity into AGen software.
Verification:
Have a second person verify the counts to reduce the risk of errors. Investigate and resolve any discrepancies between the physical count and the system records immediately.
Recording:
AGen will help to record the verified counts in the inventory management system. The storekeeper will update any discrepancies or adjustments in the system to reflect the accurate inventory levels.
Analysis:
Analyze the reasons behind any discrepancies and implement corrective measures to prevent future inaccuracies. Use the stock take data for strategic analysis, such as identifying slow-moving or obsolete stock.
Reporting:
Generate stock take reports to document the results, including any discrepancies found and the actions taken to resolve them. Communicate the results to relevant stakeholders, such as management and warehouse staff.
Continuous Improvement:
Use insights gained from the AGen stock take process to improve inventory management practices and enhance accuracy in the future.
Summary
Stock take is a crucial element in maintaining accurate inventory records, preventing stockouts or overstock situations, and ensuring the overall efficiency of the supply chain. Stock takes also tedious and repeating task need to be perform by the store keeper. AGen stock take design to help the storekeeper to simplify the recording of the stock take information and reduce their burden of work.
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