A cycle count schedule for excel template is a valuable tool used in inventory management to monitor and track the quantity of specific items in your inventory without having to count every single item. This method of partial inventory counting is efficient and can help maintain accurate inventory levels. It is generally used to spot check inventory items and is executed at regular intervals throughout an accounting period.
The template, designed in a spreadsheet format, typically includes columns for the item being counted (including name and SKU), location and BIN number, counted quantity, and last count quantity. More advanced cycle count templates (like the one available for download above) will also calculate any discrepancies for you to highlight differences in your count vs the estimated count. By using a cycle count excel template like this one, businesses can significantly reduce discrepancies, prevent stockouts or overstocks, and improve overall inventory control.
Read more: An Introductory Guide to Inventory Cycle Counting for Small Business
Implementing the cycle count template is fairly simple and straightforward. Here are the steps to follow:
- Create a list of your products and variations and add these with their SKUs to your cycle count master tab.
- Calculate each variation's Safety Stock number. This is the amount of stock you want to ensure you always hold for each product in your inventory. Your safety stock tally will be used in each cycle count tab to show you if your stock count maintains this number.
- Create a new tab for each cycle count you perform, containing the products and variations you have selected to count (cycle counts generally do not contain a "wall to wall count"). Enter in the last stock count date and the physical count, the estimated manufacture and sales data and then the actual shelf count.
- Add the name of the shop floor team undertaking the count, and also the team member responsible for verifying the count.
- Create a tab each time you undertake a cycle count and save in a shared location for others to access (or alternatively, use a real-time inventory solution like Craftybase that can generate instant randomized cycle count forms for you!)
Craftybase is an online inventory management and cycle count software designed specifically for DTC manufacturers.
With Craftybase, you can easily create and manage your cycle counts using a variety of different sampling methods (all, category, date since last count etc), allowing you to keep a firm track of your material and product stock levels. This powerful inventory management tool also integrates with various sales channels such as Wix, Amazon and Shopify, making it easy to manage your entire business in one place.
Stop wasting time manually creating cycle count templates in Excel and start using Craftybase today to streamline your inventory and boost your business’s efficiency. Say goodbye to stockouts and overstocking - Craftybase is your production central! Try us completely free for 14 days today!
