eTurns TrackStock 

Makes Physical Inventory or Cycle Counting More Efficient 

 

 

What is Cycle Counting?

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.

 

Do I need to buy scanners for cycle counts or physical counts?

No need to buy scanners. Use the eTurns TrackStock Replenish mobile app to scan items for a traditional cycle count. Alternatively, you can use the eTurns TrackStock Manage 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 minimum and triggers an automated order up to the maximum to replenish. 

 

Do no-touch cycle counts two times a day using SensorBins

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. 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.

 

Automatically adjust inventory in real-time based on your latest cycle count 

With other barcode systems, the user scans the barcoded item number on the bin and then enters the item count into the scanner or mobile device. This information may then need to be uploaded into the company's ERP system. With the eTurns TrackStock apps, 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, eTurns takes information from the cycle count and reorders items where minimums have been breached or re-classifies items where necessary. 

 

 

 

The eTurns TrackStock app advantages over manual cycle counting:

  

Perform ABC cycle counts more quickly  

Use multiple options to categorize, segment and track inventory. For example, you’re not limited to ABC categories – you can add D through Z, use descriptors, or more. eTurns’s app allows you to define inventory categories, set up individual counting cycles for each, and choose whether to have segmentation fixed or automatically changed depending on preset conditions.

 

Flexibility  

Users determine how items are classified, what items are automatically or manually classified, what thresholds determine re-classification, and how often each classification is counted. TrackStock also allows the user to either use item orders or consumption to calculate inventory turns.

 

Notifications

TrackStock takes into account variables such as on-hand quantity, price, counts, receives and consumption and reclassifies items into different cycle counting segments when necessary. If you have the item set to "automatically segment", eTurns will recalculate how frequently the item should be counted and you'll get a notification if its classification has changed due to pre-set thresholds.  

 

No missed items during counts

TrackStock notifies you if you neglected to count an item in your scheduled cycle count. If an employee cannot get to all the A items on the list that day, those items will be automatically included in the next cycle count.

 

Do counts of consigned or customer-owned inventory 

Users can count both consigned and customer-owned inventory and have the ability to track each separately.

 

Reporting 

Users can obtain a report on the difference between customer count and current on-hand and determine how to deal with the discrepancy.

 

Automatic replenishment

Updates of the inventory counts start the recalculation comparison to the minimum inventory level and then create a suggested order in the cart. If quantity-on-hand is less than the minimum, TrackStock triggers an order of the item up to the maximum level. 

 

Get alerts

Set the number of times each of the inventory classifications are counted per year. Get alerts when it is time to perform a physical inventory or cycle count.

 

 

Cycle Count Tips for Better Efficiency

Read these great tips we put together for help on cycle counts and physical counts, check out our blog: Four Tips on Efficient Cycle Counting Methods