Maximizing Warehouse Space Utilization and Efficiency Workflow

Conduct a Physical Inventory

Type: Fill Checklist

This business workflow step involves conducting a physical inventory of all assets, products, or materials held within a company's premises. The primary objective is to verify the accuracy of the existing inventory records by physically counting and verifying each item. This process typically requires coordination with various departments, including logistics, warehouse management, and accounting. To initiate this workflow step, relevant stakeholders are informed, and necessary arrangements are made for the physical count to take place. Once completed, discrepancies between the actual count and recorded values are identified, documented, and addressed accordingly. The outcome of this process is an updated inventory record that reflects the current status, which serves as a foundation for future business operations and decision-making processes.