Purchasing Officer Question:
If I would like to stop taking annual physical inventories. Is there an alternative to physical inventories?

Answer:
You can use cycle counts on a cyclic schedule rather than taking physical inventories. The most effective cycle counts are those conducted on a daily basis.
Previous Question | Next Question |
When the risk of loss pass to a buyer when goods are purchased FOB the buyer's plant? | Is it important to track the inventory turns? |