Choose Your Options for Software Inventory

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To make an inventory, whether you are a Materials Distribution Company or a Works and Services, Facilities, Maintenance Company and no matter how small your warehouse is, facing this moment can be a challenge.

Below, you will find a series of good practices, which if you follow them you will see that they can avoid many unforeseen surprises and save you a lot of time in the process of taking inventory.

There are companies that decide to do a rotating inventory, others periodically, and a great majority that can  do an inventory once a year. Whatever your case, we have found that by following these simple tips, the process becomes much more enjoyable. A visit to https://www.action1.com/p/Free-Software-Inventory-sw.html happens to be essential in this case.
The importance of how to do a good inventory in today’s company

Virtually all organizations require more or less inventory to function. The Distribution Company or other marketing companies such as wholesalers, make their warehouse the center of their business, and the efficiency of their business depends on it and its management. Other companies such as the Works and Services Company, the Installation Company or Maintenance Services Company or SAT may require a smaller inventory, but as soon as there is inventory, there are resources: always scarce and always valuable.

A typical Distribution Company may have 80% of its assets in circulation, and of this, 50% in customer financing and 30% in inventory. And in the Income Statement, the main item of expenses are, of course, supplies: up to 75% of total income.

Tips to make inventory easier

Make an inventory with stock initialized to 0, one day before

Don’t worry about non-stock items, even if your management program says they do. If the day before taking the inventory – or regularizing it – you initialize all stocks to “0”, you prevent any item from remaining in stock before counting.

Take inventory in a day with no inputs or outputs

Avoid movements that distort the inventory process, choose a day when there are no inputs and outputs of the inventory material. Many choose the December bridge for that. Thus, you make sure that no entry or exit out of balance the amounts counted.

Do not modify documents dated prior to the inventory day

The modification of quantities in articles dated before the day of would distort the data of the count. The adjustment move to “0” in inventory initialization would no longer reflect 0 units. It can be fixed, but better avoided.

The average cost of inventory, be clear

The average cost valuation of the inventory always depends on the date on which the data is extracted or the list is taken to the management program. Do not be confused if, for example, on January 15 you take out the inventory list dated December 31. If between those days there have been new purchases with a different price, the evaluations to one may not coincide: the cost of the item’s file is aware that it is January 15, but in your list it will have the cost as of December 31.

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