Cycle Counting

 A cycle count is a Inventory auditing procedure, which falls under inventory management, where a small subset of inventory, in a specific location, is counted on a specified day.

Cycle counting is the periodic counting of individual items throughout the course of the year to ensure the accuracy of inventory quantities and values. 

Frequency of counting item may be based on classification of item

Example

Class A item shall be counted for 4 times a year

Class B item shall be counted for 2 times a year

Class C item shall be counted for once in a year

Setup for ABC Analysis

1.Creating ABC Compile

2.Generating ABC Descending value report

3.Defining ABC Classes

4.Defining ABC Assignment group

5.Associating classes and assignment group

6.Updating item assignment

7.Generating the ABC Assignment report

Create the ABC Compile

Click on Compile

 Click on "Yes" Print compile results

 Click OK

 Once the concurrent is completed compile status can be viewed

 Click on ABC descending value report output

 Output

 Define ABC Classes

 Define ABC Assignment Groups 

 Attach the ABC compileAssociating classes and assignment group

Click on Group Classes and add your class

 Click on Assign Items and enter the sequence number . This sequence number represents the number of items present in descending value report.

Update Item assignment

 Save and click on update items and check if the items are assigned based on the classes defined.

 Create Cycle Count .

 Define cycle count name

 Enable Auto Schedule and enter the next date

 Attach the ABC assignment group and save.

 Click on Classes and define the Class count based on per year how many times it has to be counted.

 Click on Items and check if Class & Item is displayed.

 Requery the cycle count and check the status.

 Click on Tools  : Perform full cycle count

 Enter your cycle count name

 Enter your cycle count name

  Enter your cycle count name

Once all the activities done. To view the cycle count listing output follow the below navigation.
In Tools : Cycle Count Listing Report .

Perform Cycle Count Entry

Select your cycle count

Select your item and enter the physically available quantity and save

Navigation: Inventory: Counting: Cycle Counting: Cycle Counting Entries

Enter the cycle count and click on Find

Confirm Yes

Select the items and click approved and rejected lines 

Save the transaction. Adjustment will be processed

Navigate to cycle count definition page to view the approved details

Navigate to cycle count definition page to view the rejected details