Cycle counting is an important business tool and can be especially advantageous for firms in the retail industry. Effective use of cycle counts can save retailers enormous amounts of money in inventory mistakes such as overhead buildup. Here’s a breakdown on what cycle counting is and what it can do for you.
What Cycle Counting Is and Why You Should Implement It
Cycle counting is both a savvy and proactive inventory management practice. Essentially, cycle counting means running a check on your inventory with special attention given to best sellers and seasonal goods. You will glean important information from cycle counting that can lead to better decisions in marketing and purchasing. By keeping a thorough accounting of what you have in stock, it’ll be harder to make mistakes in purchasing like over ordering and winding up with an expensive mass of overhead.[Read more…]