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The Basics of Taking Physical Inventories and Cycle Counts  

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Seminar Summary:

Attend this action-packed workshop for greater speed and accuracy in physical inventory counts (see full course description)

 
 

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Training Course Syllabus:


How can something that's only done occasionally cause this many problems? Conducting physical inventories is part of your job. And it's a pain in the neck! There's the planning, the reports. And what really gets to you is the anxiety ... that nagging voice in the back of your mind that asks, "Haven't you overlooked something important?"
 
Fortunately, that little voice has been wrong so far ... no major catastrophes have happened. But you still worry.
 
If the count is off, you might end up paying taxes on inventory you don't have (or not paying taxes on what you do have which makes the IRS very unhappy) ... or over-ordering perishables and watching them spoil ... or, in extreme cases, running completely out of an important item and nearly shutting down the company.
 
What makes matters even worse, when the count is off, all the accounting records are irrelevant and the financial statement is off. Now that puts a lot of pressure.
 
Attend this action-packed workshop for greater speed and accuracy in physical inventory counts. Check out the details below.

How You Will Benefit ...

  • How you can cut out the physical inventory altogether
  • How to prepare and schedule your staff to cut down on inventory expenses
  • 7 items that must be on every inventory tag

What You Will Cover ...

    Mastering The Building Blocks Of An Effective Inventory System
     
     

  • How much inventory should you hold? Here's a sure-fire way to figure out
  • The "EOQ" and other inventory models ... which one will work best for you?
  • Why the IRS is concerned about how you do your counts
  • Cashing in on the benefits of the "no-inventory" system
  • How you can help protect the integrity of your company's cost-accounting system
  • Tapping into "computer power" to help track inventory

    Preparing For The Physical Inventory
     
     

  • What you should be doing 1 month ... 1 week ... and 1 day before your physical inventory
  • How to set up a locator system that keeps track of every item ... at all times
  • The IPP approach to preparing your facility for the physical inventory
  • Mastering the fine art of test counting
  • Monthly? Quarterly? Yearly? How often to do your inventory count
  • Physical counts and accounting cycles: How do they relate?

    Conducting An Accurate Count Without A Hitch
     
     

  • How to determine which products need to be counted most often
  • How to counteract the biggest source of inventory stress
  • The secret to setting up a multiple product line inventory
  • How to maintain constant inventory checks with "cycle counts"
  • 6 things auditors expect from you ... and 1 thing they definitely don't want
  • How to get an accurate inventory count without digging through every pile of stock
  • What to do with shipments that arrive during the inventory

    Making Every Count Go Faster And Smoother
     
     

  • Zoning: What it is and how it will cut down on your manpower needs during the count
  • Technological advances that'll make your counts go quicker and smoother
  • The best way to count small parts and components
  • How to select the best outside firm to count your inventory
  • What you should communicate to others in your company to keep the count problem-free
  • How to set challenging - but attainable - inventory accuracy goals
  • Proven techniques for reconciling discrepancies to your records

Who Should Attend ...

For those professionals who are frustrated by physical inventory or cycle count gone awry. Attend this one-day seminar and learn how to make every inventory go smoothly.

 

Your Satisfaction Is GUARANTEED!

At Padgett-Thompson, our #1 goal is to give you the tools you need to succeed. That's why every seminar, conference and training resource we offer is 100% guaranteed. Every time.

Seminar Summary:

Attend this action-packed workshop for greater speed and accuracy in physical inventory counts (see full course description)

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