What is a Physical Inventory Count and Why is it Important?
In retail and warehouse environments, the physical inventory count serves as a cornerstone procedure for determining the accurate value of stock on hand. This methodical process goes beyond merely tallying up items—it encapsulates the very essence of stock management and accountability. What is a Physical Inventory Count? Physical inventory count is a process of capturing […]
What are the Challenges of Performing a Physical Inventory Count in a Cold Storage Environment?
A cold storage environment still requires inventory counts. Doing a physical inventory count in a cold storage facility poses numerous challenges. Luckily, Monarch has the proper equipment and highly-trained team to perform a cold storage inventory accurately and safely. Well…. It’s Cold One of the biggest challenges of a cold storage inventory is obviously the […]
What Are The Benefits of Performing A Sample Physical Inventory Count, and How Do I Go About It?
A sample physical inventory count is a great way to assess whether you need a larger scanning audit. A full physical count can be time-consuming and even require shutdown time. A sample count allows you to target an area of stock without too much interruption to your business. What is a Sample Physical Inventory Count? […]
How Does Monarch Help With Capturing Weights and Dimensions?
Although we have very experienced warehouse inventory team members, they can’t tell the weights and dimensions of products purely by looking at them. That is why we have partnered with Cubiscan to combine their state-of-the-art technology and our technicians. Working together, we can assist your operation with implementation when your internal labor resources are constrained. […]
How Do You Perform A Successful Physical Inventory Count When Product Is Stored At A 3PL Facility?
Using a 3PL facility is becoming popular for businesses needing external help and a way of managing their supply chain more effectively. Some inventory service providers may shy away from doing inventory counts at 3PL facilities because they can be challenging. But, with our highly-skilled team and adaptable technology, we can help you with an […]
How Do You Break Down Inventory at Cost vs. Retail for a Retail Inventory Count?
When you are doing a retail inventory count, we can provide you with the inventory at cost vs. retail value. It is easier to give the cost value of items when we are doing a financial count, but your point-of-sale system will provide you with the cost price during a scanning audit. Knowing the value […]
How Can I Save Money on My Inventory Counting Services?
Inventory counting services can make running a business easier. For example, having a professional company responsible for your counts is worth the cost because they have the expertise and technology to give accurate results. But there are several ways that you can prepare for your inventory count that will not only help the process go […]
How Much Notice/Planning Is Needed to Schedule a Retail Inventory Count?
A retail inventory count is crucial to running a business but can feel overwhelming. It takes time to coordinate and it can be difficult to know what steps to take. If you are planning a retail inventory count, we recommend contacting us at least 4 to 6 weeks before the count date, especially towards the […]
How Often Should I Schedule a Physical Retail Inventory?
We recommend scheduling a physical retail inventory quarterly or annually. Deciding when to count your inventory will depend on the purpose of the count. Counts for tax purposes are usually done at the end of each year, while counts to monitor stock levels and prevent stock loss are done more regularly. Physical inventory counts can […]
What Can I Do To Help Improve The Efficiency of My Retail Inventory Count?
“Are there things I can do to improve the efficiency of my retail inventory count?” This is a common question we get from clients, and many of them don’t realize that the success of a count relies on more than our expert team members, processes, and technology. Time is money, and having an organized store, […]
