All Features:
Cycle Counts
Cycle counting and inventory audits are easier with guidance from TrackStock
With one scan of a QR code, all the needed information on that item is already at the user's fingertips for item counting, tracking, re-classification, replenishment and reordering.
- In real-time, TrackStock takes information from the cycle count and reorders items where minimums have been breached or re-classifies items where necessary.
- TrackStock helps you classify the items you wish to ABC cycle count and set min/max levels for each item.
- During a cycle count, the app lets you know if you missed counting an item in your scheduled count.
Do no-touch cycle counts daily with SensorBins IoT weight sensors
TrackStock SensorBins use IoT weight sensors to do no-touch inventory tracking and can be set to measure the inventory levels several times a day depending on demand. With SensorBins remote inventory audits are finally possible. Teams can keep an accurate view of inventory from any web browser, even when their SensorBins are half-way across the world.
For companies that have fast-moving or vital items that must always be on hand, especially on a manufacturing assembly line, SensorBins provide the best insurance the items will always be in stock.
Advantages over manual cycle counting:
Perform ABC cycle counts more quickly - Use multiple options to categorize, segment and track inventory
Notifications - TrackStock looks at variables such as quantity and price and reclassifies when necessary, notifying users of the change.
Get alerts about missed items during scheduled counts
Get alerts when it is time to perform a physical inventory or cycle count
Flexibility - Users determine how items are classified and whether item orders or consumption is used to calculate inventory turns.
Reporting - See potential discrepancies between customer count and current on-hand
Do counts of consigned or customer-owned inventory
FAQ
While a physical inventory is a comprehensive count of all inventory in stock, usually conducted annually, cycle counting is a system of methodically counting smaller portions of stock on a regular basis.
While it takes discipline and a good system to implement cycle counting, it has many advantages over a physical inventory. Usually done at a company’s fiscal year-end, a physical inventory requires shutting down any inventory activity – including receiving and shipping – to ensure an accurate count. This is an expensive proposition in terms of labor and lost revenue.
Cycle counting is more advantageous because spot checks can be done while conducting business. It also does not take many resources to do on a regular basis. Cycle counting also enables companies to find inventory errors much more quickly than waiting until the end of the year, potentially saving significant capital.
Technology has enabled a more efficient and accurate approach to cycle counting than the manual approaches of the past.
Manual cycle counting can take hours or even days when employees rely on paper count sheets, spreadsheets, and manual data entry. eTurns TrackStock speeds up the process by letting employees scan items with a mobile device, record quantities digitally, and receive alerts for missed counts. Scheduled cycle counts also help teams count smaller groups of inventory without waiting for a full physical inventory count.
Learn how to replace manual inventory counts with a faster, more efficient process in our article, How to Speed Up Inventory Counts and Reduce Manual Work.
No need to buy scanners. Use the TrackStock mobile app to scan items for a traditional cycle count. Alternatively, you can use the app to scan items as they are used - the app tracks usage so there's always an accurate on-hand count. The app continually compares the quantity-on-hand with the set minimum level and triggers an automated order up to the maximum to replenish.
Inventory discrepancies often happen when items are used, moved, or replenished without updating inventory records accurately. Manual counting and spreadsheet-based tracking can make these errors harder to catch. eTurns TrackStock helps businesses keep more accurate inventory records through mobile scanning and scheduled cycle counts, letting employees spot discrepancies sooner and reduce unexpected stockouts.
- A company who needs to reorder consumable/MRO supplies from multiple suppliers because TrackStock is supplier-independent.
- A company that has a problem with overstocking or stockouts and a purchasing manager who wants to solve that problem to save the company money and buy only what they need.
- A company who is interested in having employees do a weekly Cycle Count for that stockroom with the TrackStock QR code scanning app. (We help print the QR codes) Users would scan the QR code for a product, type in how many were left, and tap send (it can go to approvers or just be sent directly to distributors). It is that easy. In set up, TrackStock learns the package quantity, min/max levels desired, etc.
- A company who wants to save money on inventory and annual carrying costs . After a few months of usage, TrackStock can recommend optimized Min/Max levels to make sure the company doesn't run out and isn't stocking more than they need.
