Inventory management is a big deal. Inventory needs to be stored in appropriate physical conditions, expiration dates need to be monitored, it needs to be protected from any kind of damage, and you must count it accurately to make sure it is reflected correctly in the books.

When you count inventory once or twice a year, each count takes a lot of time. It is usually done in a hurry or sometimes with outsourced help and may reveal significant gaps when comparing it to the books. To avoid unwanted surprises and continuously increase the accuracy of inventory status, SAP Business One enables you to set cycle counts on a regular basis:

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When conducting inventory counts regularly, the counting process is more efficient, takes less time and if inconsistencies are discovered, they are probably minor. Investigating the cause of small inconsistencies revealed during a frequent count may prevent larger gaps in the future.

Now, assign the relevant inventory cycle to the respective warehouse, either per item group or sub-levels (in warehouses where bin locations are managed):

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You can assign a dedicated user for each cycle count and indicate to send the user an alert. Generate the Cycle Count Recommendation report to review the recommended counts for today and initiate inventory counting for the relevant items.

Available in SAP Business One 9.3, version for SAP HANA and SAP Business One 9.3.

We hope that you find this tip useful! For more information on Business One, you can visit our webpage or get in touch.

Source: Ari Schapira | SAP Business One – The Tip of the Week