Physical inventory strategies and workflow

To expedite the physical inventory process, we recommend these strategies:

  • Break the physical count into a two-step process. Have your staff perform a count and mark the product quantities, and then perform a data load to scan the quantities into the RF.
  • Count all slow-moving or dead stock the week before your physical. You can adjust the product quantities if product demand occurs after the count is performed.
  • The day before the physical inventory, perform the count of each product in each bin in your warehouse. Write the quantity on a card and tape the card to the bin location.

  • On the day of the physical, use this workflow:

    • Verify WL Transaction Inquiry does not contain any transactions.
    • Ensure everyone is aware that the physical inventory is about to begin. Remind users not to send anything through the system during the entire duration of the physical inventory count. For example, they can enter orders, but cannot print them.

    • Print a trial balance of the stock and nonstock inventory by running these reports:

      • Product Trial Balance of Stock Inventory Report
      • Product Trial Balance of Non Stock Inventory Report
      • Product Warehouse Inventory Audit Report
    • Generate the WL Audit Inventory Report and the WL Entry Batch Adjust Inventory Report. Then, rerun the Product Trial Balance of Stock Inventory Report and the Product Trial Balance of Non Stock Inventory Report. This is to synchronize the system and TWL, and to provide you with the out-of-balance values for monetary amounts and units.
    • Set the physical inventory from TWL Execution-Physical Inventory.
    • Using the RF unit, scan each location and corresponding product and specify the quantity from the card for each location in the warehouse.
    • When the counts are 95% complete, research the major discrepancies.
    • When the counts are 100% complete, research the total amount of your discrepancies.
    • Run the WL Audit Inventory Report in update mode to create the STK transactions in WL Transaction Inquiry. Resolve reported errors.
    • Run the WL Entry Batch Adjust Inventory Report to pick up the STK transactions and create stock adjustments in the system. Resolve reported errors.
    • Rerun the Product Trial Balance of Stock Inventory Report and the Product Trial Balance of Non Stock Inventory Report. This is to identify the differences the physical inventory has generated.
    • Move error transactions in WL Transaction Inquiry to inactive.