20 Feb '19 Taking the Inventory Count Process to the Next Level
Written By Janice Phelps, Operations Director
No one dreads the end of the year like wholesale distributors and manufacturers. Traditionally, this has meant the long, stressful process of the year-end inventory. And it seems like, for many companies, even if this process is done more than once per year, it is tedious and basically halts business until it is done, verified and reconciled. And reconciled again.
I took an informal poll recently, and found that, if given a choice, some of these companies would skip the year-end chore all together. What I also learned is that, in the companies that would continue the practice, their biggest complaint is that they can’t transact business during the count process because of all of the reconciliation steps. Everyone agreed that they would be willing to change their process – but only if they had reliable tools to use in place of what they do today.
Enter Blue Moon’s QualityCount. With QualityCount, you have the ability to create full inventory count sheets that track every item/serial number and lot number with a pre-defined number so that if an item is skipped, you know about it right away. We also allow you to freeze either the On Hand or Available quantity, depending on your fulfillment process within the warehouse. With options like multiple tags for the same item (great if items may be stored (intentionally or not) in multiple places within the count area), the ability to use warehouse bins only (not tracked in Dynamics GP) or full multi-bin tracking with Dynamics GP, and import capability from a data collection device, the count process can be faster and more accurate than in the past. We also have an integration with Panatrack’s PanaCount product (licensed and sold separately) for the ultimate in counting, re-counting and reconciling from the warehouse before updating within Dynamics GP.
Once the count step has been finished, the user has the ability to enter proper costs for items that will be increased in quantity (not just using the current actual or standard cost), and a variety of reports may be run to measure accuracy, determine post-count inventory value and review all of the journal entries that will be made upon completion of the process. All of this analysis is done prior to committing the count to the inventory module, making this the last step in the count process.
And let’s not forget Cycle Counts! Many companies have such complete cycle count processes that they have eliminated the full inventory count all together. Quality Count has a number of methods to determine your A, B and C items, and has an easy option to fold in new items during the count year. By counting a few items each day, users can find discrepancies faster, increase confidence in the system, and spend less time worrying about inventory values being out of balance.
Contact our Channel Management team for more information about Quality Count.