ASSIGNMENT HELP | All warehouses are obligated to undertake some form of stock count.

All warehouses are obligated to undertake some form of stock count. It depends on the law of the country and accounting requirements as to how frequent and comprehensive the count is. We have seen over recent years a move towards cycle counting or perpetual inventory counts as a replacement for an all-encompassing annual count of stock in the warehouse. In 250-300 words describe cycle counts What are some of the benefits of cycle counts?

MODEL ANSWER

Logistics

            By capturing, monitoring, and evaluating results frequently, a company can boost the accuracy of its logistics and inventory quantities and report on finances more accurately. When it is conducted routinely, and in a systematic manner, cycle counting generates reliable numbers and can get rid of the burden of full physical | PLACE YOUR ORDER NOW AT writtask.com | counts are inventory auditing procedures that fall under inventory management; in a specific location, small subset inventories are counted on a specific time or day.

Errors found during the counting are expected to adjust in line with the inventory accounting | PLACE YOUR ORDER NOW AT writtask.com | counts are based on different criteria, and the organization determines acceptable management practices for their inventory based on their specific situation as part of their stock control policy.

           Cycle counts have benefits. For instance, cycle counts minimize process disruptions since the count focuses on a selected range of stocks, thus it can be conducted with the normal operations of the | PLACE YOUR ORDER NOW AT writtask.com | also facilitate faster corrective actions. According to Wilson (1995), because of the counting frequency of similar stock items, the determination of cycle counts can be used to immediately determine where inventory management problems take place.

Again, cycle counts guide stocking of products, as well as production and distribution decisions considering every organization seeks to reduce costs because a substantial amount of capital is in the form | PLACE YOUR ORDER NOW AT writtask.com | include high accuracy and frequency of the decision-making process, and it minimizes staff disruptions, boosts customer service because of the insights employees gain from cycle counts, and, lastly, increases “stock returns.”

References

Kang, Y., & Gershwin, S. B. (2005). Information inaccuracy in inventory systems: stock loss and stockout. IIE Transactions, 37(9), 843-859. https://www.tandfonline.com/doi/abs/10.1080/07408170590969861?src=recsys&journalCode=uiie20

Kull, T. J., Barratt, M., Sodero, A. C., & Rabinovich, E. (2013). Investigating the effects of daily inventory record inaccuracy in multichannel retailing. Journal of Business Logistics, 34(3), 189-208. https://onlinelibrary.wiley.com/doi/abs/10.1111/jbl.12019

Wilson, J. M. (1995). Quality control methods in cycle counting for record accuracy management. International Journal of Operations & Production Management, 15(7), 27-39. https://www.emerald.com/insight/content/doi/10.1108/01443579510090390/full/html