Physical Inventory Management

Physical Inventory Services

Managing a physical inventory is a significant undertaking that demands meticulous planning and preparation. At Replenish Supply Chain, we provide comprehensive project management services to ensure your physical inventory process is seamless and accurate. Our team of experts will guide your company through every step, from initial planning to final execution, making the complex task of physical inventory straightforward and stress-free. 

Our Services Include:

  • Comprehensive Project Plan: Develop a detailed project plan outlining all tasks and dependencies required for a successful physical inventory. This plan will serve as a roadmap, ensuring every aspect of the inventory is accounted for and executed efficiently.

    Task Breakdown: Key preparation tasks include pre-cycle counts in specific areas, raw material replenishment cut-offs, defining work-in-progress (WIP), closing work orders, completing incoming inspections, segregating quarantined inventory, managing RMAs, and setting shipping cutoffs.

  • Preparation Plan: Create a thorough preparation plan that covers all necessary steps to get ready for the physical inventory, ensuring all materials and processes are aligned.

    Execution Plan: Develop an execution plan that outlines the day-of procedures, ensuring that all activities are carried out smoothly and accurately.

  • Training Sessions: Conduct essential training for all employees involved in the physical inventory process, ensuring they are well-prepared and understand their roles and responsibilities.

  • Materials Management: Ensure that all materials are accurately accounted for and managed throughout the inventory process.

    Finance: Coordinate with the finance team to ensure accurate valuation and financial reporting of the inventory.

    IT Support: Work with IT to ensure all systems and data inputs used in the inventory process are functioning correctly and effectively support the inventory activities.

  • On-site Support: Provide on-site support during the physical inventory to oversee the counting process, investigation of variances, re-counts and final reporting.