Re: Physical Inventory in real time
Can anybody explain me the realtime procedure of Physial inventory??
Gregory Mathews replied
The following are the steps involved in physical inventory
1.We prepare a list of the materials to be counted with material code/identification codes.
2.The inbound and outbound will be blockled at the time of counting.
3.Then we start the counting.
4.We enter the counted stock against the materials in the list.
5.Compare the counted physical stock with book stock or system stock.
6.If there is any differance then we will adjust the physical stock and book stock With permission from higher authorities.