INVENTORY CYCLE COUNT IN EXCEL

[SSJ]

Hello to all!

I want to start an inventory cycle count program in my company. How can Excel be used to do random selection? The only data I currently have is a listing with the following headings:

1) Part Code
2) Part Description
3) Location Code
4) Quantity on hand
5) Unit Cost
6) Total Cost
7) Cateogry

The accounting software does not provide, currently, a usage report that I use to apply ABC method of selection items.

Any suggestions from Excel using inventory gurus would appreciated.

Thanks
SJ

 

[gls858]

Hello to all!

I want to start an inventory cycle count program in my company. How can
Excel be used to do random selection? The only data I currently have is
a listing with the following headings:

1) Part Code
2) Part Description
3) Location Code
4) Quantity on hand
5) Unit Cost
6) Total Cost
7) Cateogry

The accounting software does not provide, currently, a usage report that
I use to apply ABC method of selection items.

Any suggestions from Excel using inventory gurus would appreciated.

Thanks
SJ

not sure about how to randomize your choices but why would you want to?
We do cycle counts here and typically do certain sections at a time as
opposed to selecting random items. This way we know that over a months
time we count every item in every section.

gls858

 

[SSJ]

Thank you for your response.

Well, I was trying to investigate various options. As I would the only
person counting and only once a week the process would be slow. As I would
like to be able to make a selection of high dollar values items as well as
low dollar value items.

Secondly, I have downloaded the inventory listing today and perhaps in a
month's time I will download another inventory listing to compare to get a
percentage of change / movement. Perhaps that would help in selection. Any
suggestions as to how to setup for such a comparison?

Nevertheless I do realize that due to lack of information, section by
section cycle count would be the way to go.

Thanks
SJ


But i do realize now that section by section counting over a period of time
would be

 

[gls858]

Thank you for your response.

Well, I was trying to investigate various options. As I would the only
person counting and only once a week the process would be slow. As I would
like to be able to make a selection of high dollar values items as well as
low dollar value items.

Secondly, I have downloaded the inventory listing today and perhaps in a
month's time I will download another inventory listing to compare to get a
percentage of change / movement. Perhaps that would help in selection. Any
suggestions as to how to setup for such a comparison?

Nevertheless I do realize that due to lack of information, section by
section cycle count would be the way to go.

Thanks
SJ


But i do realize now that section by section counting over a period of time
would be

We look more at hits than value. Of course your case may be different.
We don't have a lot of high dollar items and little or no shrinkage
(read theft). We just have a warehouse and do no retail.
The basic assumption we make is the more often an itme is picked then
the greater chance it has of being incorrect. We keep all of our high
turn itmes in one area close to our packing tables so they're easy to
identify.

I suppose this isn't really Excel related stuff if you want to discuss
inventory control my reply address is valid just put inventory control
as the subject and post me a note here. I don't usually check that
address everyday.

gls858