Physical Inventory Count Services
Have you struggled to perform a Physical Inventory Count and aren't sure what you can do to create a better result?
Have you ever worked on a home project over the weekend and told yourself “This will be easy! I’ll have this done before lunch on Saturday.” Only to find out after you start the project that you didn’t have all the supplies you needed, or a special saw to make a cut you hadn’t planned for? After cancelling plans last minute with the family and several trips back and forth to the hardware store, Sunday evening you wrap up the project. Physical inventory counts “seem” easy from the outside. But when you factor in things like experience of the counters, staffing discrepancies, misunderstandings with how the WMS is holding the inventory, and inconsistency in the processes used to execute the project, things can go sideways in a hurry. Especially when you are in a highly time-constrained environment.
Things can go sideways in a hurry, especially when you add in a highly time constrained environment with both finance and operations leadership needing frequent briefings on status. You ask yourself, “How could something as easy as counting have so many challenges?”
We're Here to Help
At Monarch, we are always striving for excellence through continuous process improvement. We have completed countless physical inventories within warehouse and manufacturing facilities and with each count in the rear view mirror, we improve our processes and technology. We have seen it all. We know what to expect before it happens, and if we run into a situation that is new, we have the technology to be able to adapt quickly to minimize timeline impacts. Our built in verification processes and software are tailored to warehouse and manufacturing environments and provide for immediate and continuous visibility into the count. The technology allows for counting issues to bubble to the top as soon as the count starts where they can be addressed immediately and course corrected. You will know exactly where you are at in project status at each step of the way. You will rest well and relaxed, knowing that things are going as you had planned, that all stakeholders are read in to the status of the project, and your timeline is on target. As the count concludes, the data is verified to 99.9% accuracy and turned over shortly following the count.
The final results can be provided in reconciliation format for manual adjustments to be made or we can engage with your IT department or WMS support team to format the results in such a way that they can be imported into the WMS for automatic balance on hand and financial adjustments.
Combining our ideal team players and our technology with your operation is a recipe for success.
Questions to ask when considering Physical Inventory Count Services
While an operational shutdown simplifies the physical inventory counting process, it is very costly to the operation. It is important to discuss these options with your leadership team and inventory service partner to see if controls and processes can be put in place when an operational shut down is not possible. In some cases this can be done with the introduction of temporary and rigid processes for moving inventory within the four walls.
While we are all human and mistakes can happen, we very rarely underestimate a quote. If we do, we adjust our processes to prevent it from happening a second time. We spend the required time up front ensuring we have a good understanding of your operations. We do this using technology and direct interaction with you to gain insight into the pace of the count. We pride ourselves on quoting things accurately.
Getting the job complete requires a set number of people to get through a pre-defined number of hours based upon the scope of your project. We staff each day of the project in accordance with the required staffing plan. We have the same people on the project each day. If availability requires that we add people on certain days, then that can change the number of staff, but the base team that started will remain through the entire duration of the project. Also, our estimated hours don’t change based upon skill level. Everyone on our team is skilled, and our staff plans make this assumption from the start.
While we can integrate our teams into your existing processes, we also have the technology and expertise to deliver 99.9% accurate results. We can provide you transparency into the data and results while the count is under way. To ensure we hit the target timeline, your subject matter experts will need to be available to answer questions and run down issues that are specific to your inventory during the count. The first 2-3 hours of the project are of utmost importance.