Cycle counts, also known as auditing physical inventory stock levels, can be compared to the virtual inventory stock levels reflected in MyBlackbird.
After navigating to the Reporting Block, select the Current Inventory Report from the drop-down menu. From here, select your location and then filter the current inventory by brand, category, and status. Next, select Detail Data to display the current inventory stock levels for that specific brand's inventory. Now, you're ready to do a cycle count!
Perform a Cycle Count
Filter the Current Inventory Report by brand. Next, print the report so that you can write the current number of physical products next to the number listed on the report.
This can be done one of two ways:
- Print directly from your browser.
- Export the report as a .CSV file and print that instead.
Once you have printed the report out, you are now able to start the physical inventory cycle count. Follow along with our example below:
We are going to count the Absolute Xtracts Soft Gels 50mg first. The Current Inventory Report lists that we should have eight (8) units of that inventory SKU on hand. Physically count the units of that batch of inventory, confirming that the SKU and Batch numbers on the inventory bar code label matches that batch on the report.
Inventory Overages - If a product has more inventory than is listed on the report, we have an overage. Notate the amount of inventory counted including overage on the inventory report and set the overage item aside to be dealt with after the remaining physical cycle counts have been performed, possibly moving those units to the Unsellable, Destroyed, or Quarantine zones depending on your company's standard operating procedures.
Inventory Shortages - If a product comes up having less quantity than is listed on the report, we have a shortage. Notate the amount of inventory counted including shortage on the Current Inventory Report.
Repeat this counting process until all inventory listed on the inventory report has been covered. We should end up with a report looking something like this:
That’s pretty much all there is to performing inventory cycle counts! If you have any further questions, feel free to reach us anytime by clicking on the help chat in the bottom left of your screen. We’re always happy to help!