Cycle counting is a process of counting a small, predetermined set of goods and materials frequently, as opposed to completing a full physical inventory each year. The objective of cycle counting is to determine records that are incorrect, correct the cause of errors, close process loopholes and improve upon human error. Another benefit is having inventory on hand when needed.
Hannah Wagle created a doodle that highlights the functions and benefits expressed in one of Nicole Clausen’s blog posts on inventory management.
Source: Veterinary Economics, March 5, 2018.
It’s time for the dreaded inventory count. Hours, even days, spent counting products, medications and whatever else needs to be kept track of in your veterinary clinic. See how cycle counting might save time and improve accuracy.
Also see: The most dreaded part of inventory… and how to change it!, Vetlogic.co.
My preference is to count my most frequently used items on a monthly basis (weekly for controlled drugs), fairly often used items quarterly, and infrequently used or special-order items counted twice yearly shares Clausen. It can also be counted by location.
INSIGHTS: Remember that inventory management is really everyone’s job.