Inventory Count
The Inventory Count feature enables improved tracking of inventory and tighter control over assets. You can enter regular periodic counts of on-hand item quantities to maintain inventory accuracy. Keeping an accurate item count can help reduce required safety stock, which lowers your overhead costs.
You can create an inventory count in two ways:
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Creating Calculated Inventory Counts – Use the NetSuite calculated list of items to create one or more inventory counts that are due.
To use this feature, first define the Next Count Date and your intended Count Interval in days on the item record. NetSuite then uses this information to calculate when that item needs to be counted.
The Create Inventory Count page shows a list of items that are due to be counted. You can select the items you want to count within a location.
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Creating Manual Inventory Counts – Manually enter inventory counts for items in your location at any time.
When you create and start a count, NetSuite takes a snapshot of the on-hand quantity of the items to be counted. After you complete the physical count, you can enter the count data on the Inventory Count page. You can edit and change the count data on a count form multiple times until the count is marked Complete.
A completed count can be reviewed to be approved or rejected. A rejected count must be counted again by the warehouse manager. An approved count generates variances to account for any quantity differences between the original snapshot and the final count.
NetSuite compares the results of the count with the on-hand quantities from the inventory snapshot. If you continue to process inventory changes while the counting activities are occurring, please note these changes. Include these changes when you enter the Count Quantity into the inventory count transaction. Alternatively, Inventory Count provides Recalculate Snapshot preference that enables you to account for such updates to on-hand quantities. For more information, see Setting Up Inventory Count or Working with an Inventory Count.
For items using calculated inventory counts, when you return to the item record of an item you have completed a count for, the Inventory subtab shows count data, including the last count date and next count date.
The Advanced Bin/Numbered Inventory Management feature must be enabled to support inventory counts of serialized or lot numbered items.