Doing Physical Inventories....
Doing Physical Inventories....
(OP)
Greetings,
I was just wonder what is the general duration manufacturing companies before doing a Physical inventory? We manage over 7000 different parts and would like to know how long they typically wait in the industry before they do a Physical inventory?
Are they at scheduled durations, or when a specific milestone is accomplished, or both?
Has anyone found a way to avoid doing any Physical inventory whatsoever?
Thanks,
VS
I was just wonder what is the general duration manufacturing companies before doing a Physical inventory? We manage over 7000 different parts and would like to know how long they typically wait in the industry before they do a Physical inventory?
Are they at scheduled durations, or when a specific milestone is accomplished, or both?
Has anyone found a way to avoid doing any Physical inventory whatsoever?
Thanks,
VS





RE: Doing Physical Inventories....
Inventory control software vendors may suggest that their product will magically keep track of everything, and that would probably be believable, if inventories were not subject to 'shrinkage' and manipulation.
Look at it this way: PI may be your best chance to catch a thief or embezzler before they kill the business completely. Shorter PI cycles limit the damage they can do.
Mike Halloran
Pembroke Pines, FL, USA
RE: Doing Physical Inventories....
We "should" be doing it yearly.. But its been a good 5 years since we did it last time..
RE: Doing Physical Inventories....
It is better to have enough ideas for some of them to be wrong, than to be always right by having no ideas at all.
RE: Doing Physical Inventories....
In college I worked at Sears. They would inventory the whole store once a year. Every item. I was in sporting goods and we counted fishing sinkers, bobbers, etc.
Here we inventory a couple hundred items at the end of every month for month end financials.
Thomas J. Walz
Carbide Processors, Inc.
www.carbideprocessors.com
Good engineering starts with a Grainger Catalog.