Inventory Control

Quick Stock Take

Purpose

Release SymbolThis function is used to enter the physical stock count of an inventory item at any time. It is the quickest way to correct an item’s stock on hand quantity. It will bring the perpetual stock on hand into line with the physical quantity.

This function is designed to be used as and when needed.  Indeed it could be deployed on the warehouse floor with an appropriate mobile device. Preferably one that has a scanner attached/or built-in to allow bar code reading of product codes and Bin and Tracking details.

You can utilise this function as an alternative to the full stock take ‘run’ functions in the system i.e. printing tally sheets/tickets, freezing stock, entering counts and finalising runs. It assumes that the ‘freeze’ quantity for an inventory item is the current stock on hand, and the ‘count’ quantity entered is the ‘finalised’ stock on hand quantity. The difference between those two quantities is what is adjusted/posted when the user ‘saves’ the details.

An alternative to using this function would be to use either the Manual Stock Issues or Manual Stock Receipts facilities to make adjustments to the perpetual stock on hand figure of an inventory item.

Data Input

­

Step 1 – Location

Location

Enter an existing Stock Location. This location designates the warehousing or storage point for the products you are taking stock of i.e. counting.
Return to the Top
­

Step 2 – Product

Product

Enter an existing ‘Product’ for which you want to complete a stock take. The product must be a valid stock item i.e. it cannot be a ‘Service’ or ‘Add-On’ charge product. The product cannot be on an existing stock take run for the selected location already.

Note that once a product is entered/selected, if appropriate, the user is prompted to select a Size and/or Colour. This assumes these features are turned on in the Product Format function and that the product itself is sized/coloured.

Return to the Top
­

Step 3 – Count

Quantity

Enter the count ‘Quantity’ of the product that you selected for stock take. This quantity is entered in purchase or stock units. Please refer to Quantity Input for more details on entering quantities and associated data such as Bins and Tracking details.
Return to the Top
­

Step 4 – Finish

The current ‘Stock on Hand’ quantity is displayed for the product in the stock location selected, along with the ‘Count Quantity’ the user has entered. The function also shows the “Variance” quantity, being the difference between the two i.e. the current ‘perpetual’ stock on hand and the entered ‘physical’ stock on hand/count quantity. All three quantities are also shown in ‘value’ terms using the current stock cost recorded in the system for the inventory item. The user can then see/verify these details before committing the new count quantity to inventory and generating the stock take transaction adjustments required.
Return to the Top
­

Submit Options

After submitting the transaction, you have the following options:

  1. Enter a count for another product in the selected location
    • This is the default selection. This option returns the user to the product prompt to begin count entry for another product
  2. Enter a count for a new location
    • Use this option if you want to enter a count quantity for a different stock location

Return to the Top

Ask a Question or Leave a Comment

Your email address will not be published. Required fields are marked *

To top