The crew showed up, they started counting, they counted everything. What do you need at the end? Well, it depends on how they counted it! If it was a “Financial” count where just dollars and units were counted, you will want to see how much was counted in each Area (based on the location within…
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Sometimes it’s good to take a step back, take a big picture view, and seek a clear understanding of just what this business is all about. What I’ve found is that at the end of the day, the entire inventory industry boils down to the following key pieces: I choose this order for a reason—without…
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Typically when we talk about inventories it means a Full Inventory where a crew of auditors goes into a store, counts everything in that store, and goes home. The data is captured electronically and transmitted to the store IT department, numbers are evaluated, shrink is detected, and basically the store performs a “re-set” based on…
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It may seem that using two inventory services would mean double the trouble, twice the work, or that it would needlessly complicate a process that’s already complicated enough. However, there are real benefits to using two vendors: 1. Scheduling flexibility. Improved chances of receiving the dates you want, not what the service can give you.…
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Large vs. Small 3rd Party Physical Inventory Services The inventory industry is basically two dimensional. On the one hand, there are a couple of huge international companies which are well established with offices throughout the United States and all over the world. On the other hand, there are regional companies with concentrations in certain areas…
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(Re-printed here with permission from Jill Konrath, author of “SNAP Selling”) Last week a friend told me about a recent fender bender. While driving, he’d been dictating an email on his cell phone. He wanted to get a few extra things done before he got to the office. We all do things like that. Multitasking…
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Bar Codes and UPC’s have become a part of everyday life, from scanning product through customer checkout systems and assisting in warehousing shipment logistics to scanning product back end and front end, ensuring complete, accurate ordering and receiving. This simple mark on your soup cans has provided tremendous advantages necessary for today’s successful and profitable…
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It’s a grocery store’s dream—the “dump bin”. Set up a barrel, fill it with mixed product, attach a splashy sign screaming an unbeatable sale price and watch the customers buy, buy, buy. It’s an inventory auditor’s nightmare—the “dump bin”. There’s no way to organize the different flavors within the bin, so as they work through…
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One part of the inventory process that doesn’t get much attention (at least initially) is Scheduling. You want to have a count done, you need it done. But when do you do it? Dates This question depends a great deal on your type of business, and your Accounting practices. Smaller companies with less than 5…
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Non-Flavor UPC UPC Non-Flavor level inventories are generally used by the retailer to gain proper departmentalization/categorization and/or price capturing. This is dependent on what the retailer can provide the inventory service with on the validation file provided to complete the inventory. Any detail provided on the validation file can be extracted by the PICS program…
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