Corporate Training By Zack Academy - Managing Inventories and Cycle Counts

Why Should You Take The Managing Inventories and Cycle Counts Workshop?

The Managing Inventories and Cycle Counts workshop is packed with methods to streamline your processes and keep your warehouse running smoothly. We've even designed customized exercises so you can apply the principles you're learning to fit your needs. In one day, you'll get a better strategy for planning, organizing and managing your inventory and cycle counts.

Anyone who thinks taking inventory is an easy job is just plain wrong. Probably the only people who know how tough it is to do an accurate, efficient inventory are people like you who have to make sure everything runs smoothly and error-free. You know that if you've got inaccuracies, your department won't be able to deliver goods to customers and that means back orders, stockpiled obsolete items, higher costs and more headaches.

Topics To Be Covered Include:

• Find out if cycle counts can bring up your accuracy and if they're worth it
• Discover shortcuts that will make your counts go faster without leading to a higher rate of error
• What's the latest in technology? Will it work for you?
• Use smart forecasting techniques, record tolerances and reconciliation methods that will keep inventory controls efficient
• Manage your staff more effectively through the inventory process

Syllabus

Your Inventory Record System:

• Assess your inventory management system to find the holes
• The basic elements of a rock-solid inventory recordkeeping system
• Avoid "paper" and use reliable electronic systems
• The most important information that should be on every inventory tag
• Easy formulas to help you decide how often to schedule counts
• JIT: Will this system work for you?
• Improve your forecasting and get what you want when you want it

Preparing for the Count:

• Getting your area in shape for the big count: tips for keeping a clean facility
• Decide on how much staff you"ll really need
• Must-have checklists to keep on hand before you start the count
• When a multiple count approach is best
• Expert tips for preventing theft
• Training staff (even those that have been there for years)
• Create locator maps that keep on working all year long
• Test counts and blind counts … Are they a good use of staff time?
• Inventory models and applying them to your situation

Cycle Counts:  Are They Right for You?

• ABC Analysis or the Geographic method: Classification methods that tell you what to count and how often
• How cycle counts can boost your inventory efficiency
• What should be counted in a cycle count?
• 4 ways to decide whether your cycle counts should replace the annual inventory
• Ranking your inventory and the 80/20 rule
• Surefire strategies to make cycle counts go quick and easy

Conduct Your Physical Inventory Efficiently and Error-Free:

• Which products need to be counted most often
• How to track in-transit items or shipments that arrive during the count
• Motivate staff and keep the stress level on low
• When should you be counting WIP inventory and when to leave it alone
• The 4-Corner method and other counting strategies
• Pallet tagging for bulk merchandising
• 5 important questions to ask when you are considering hiring an outside vendor
• Keeping staff organized and on-task during the event

Getting It Right - Managing the Problems:

• Best ways to handle small (but numerous) units
• Keeping your teams working together
• The most common causes of errors and how to handle them
• Dealing with "The Lost Product" and making records adjustments
• How much error is acceptable and find out how to track variances
• Improving recordkeeping methods and getting cooperation from other departments
• When do you know it"s time for a recount and who should do it
• What the auditors are looking for
• The final inventory report: Send accounting a report that"s easy to understand