Inventory Tag Template
The Inventory Tag Template helps with the management of the company’s inventory. Teams should count items in their assigned area in a logical, sequential (non-random) fashion to avoid any chance of missing or duplicating counting of items. General rules of procession should be followed (i.e., Left to Right, Top to Bottom, and Front to Back)
After counting a distinguishable area (e.g., shelf unit, wall, box, etc.) attach INV102-2 INVENTORY TAG to both the beginning and the end of the area to indicate that the area has been counted.
Inventory comprised of small, numerous components that would involve tedious counting and also have a very low dollar value (i.e., screws, nuts, fasteners, etc.) will be reviewed with the Inventory Control Manager and if deemed appropriate will be estimated as to volume in round numbers (i.e., 250, 500, etc.).
A final review walk-through by the Inventory Control Manager is a critical control element to ensure the accuracy and completeness of the physical count. After all counting is finished, and after all count sheets have been turned in, the Inventory Control Manager should walk through the entire area, both retail and warehouse areas, with all team members and review the area for completeness. Only after this review may the colored inventory tickets be removed.
Inventory Tag Template Details
Format: Microsoft Word 2013 (.docx)
Manual: Accounting Manuals Template
Category: Inventory & Assets
Procedure: Inventory Counting Procedure INV102
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