Effective Stock and Inventory Cycle Counting Techniques

Objectives:
• Understand the importance of cycle counting in maintaining accurate stock and inventory records.
• Learn best practices for planning and conducting cycle counts effectively.
• Develop skills to identify and rectify discrepancies discovered during cycle counting.
• Gain insights into the role of technology in streamlining cycle counting processes.
• Explore strategies to minimize disruption to operations while conducting cycle counts.
• Understand how to analyze cycle count data and use it to improve inventory management practices.
Course Content:
Introduction to Cycle Counting
• Importance of cycle counting in inventory management
• Key objectives and benefits of cycle counting
• Comparison with traditional physical inventory methods
Planning for Cycle Counts
• Factors to consider when scheduling cycle counts
• Determining frequency and cycle count intervals
• Developing cycle count policies and procedures
Execution of Cycle Counts
• Preparing for cycle counts: equipment, tools, and documentation
• Conducting physical counts accurately and efficiently
• Addressing challenges and obstacles during cycle counts
Handling Discrepancies
• Identifying root causes of inventory discrepancies
• Implementing corrective actions to resolve discrepancies
• Preventive measures to minimize future discrepancies
Leveraging Technology for Cycle Counting
• Inventory management software and cycle counting modules
• Barcode scanning and RFID technology for cycle counting
• Automation and integration with ERP systems
Minimizing Disruption During Cycle Counts
• Strategies for minimizing downtime and disruption to operations
• Communication and coordination with stakeholders
• Implementing cycle counts during off-peak hours
Data Analysis and Continuous Improvement
• Analyzing cycle count data for trends and patterns
• Identifying opportunities for process improvement
• Implementing changes based on cycle count findings
Regulatory Compliance and Reporting
• Ensuring compliance with industry regulations and standards
• Documentation and reporting requirements for cycle counts
• Audit preparation and response
Employee Training and Development
• Training programs for cycle counting personnel
• Developing skills in accuracy and attention to detail
• Cross-training and succession planning

FOR WHOM:
Stores, Purchasing and Logistics Personnel in the Public and Private Sectors.
Methodology
The training methodology integrates lectures, interactive discussions, collaborative group exercises, and illustrative examples. Participants will acquire a blend of theoretical insights and hands-on practical experience, emphasizing the application of learned techniques. This approach ensures that attendees return to their professional environments equipped with both the competence and self-assurance to effectively implement the acquired skills in their responsibilities.

DATE:

1ST BATCH:      21st – 24th Jan,              2025     

2ND BATCH:     24th – 27th June,               2025