Inventory Control and Permanent Inventory

A permanent inventory is a continuous inventory procedure in which stock levels are regularly recorded and updated. In contrast to the fixed-date stocktaking, which only records stock on a specific balance sheet date, the permanent inventory makes it possible to update inventory on an ongoing basis. This inventory procedure provides a detailed and up-to-date overview of the stock value and inventory levels. Barcode inventory and RFID inventory are essential technologies that increase the efficiency and accuracy of permanent inventory. Permanent inventory software helps to record and manage data. It helps to improve inventory results and quickly identify stock shortages (stock outs). This makes inventory accounting much easier.

Efficient stocktaking is crucial for accurate inventory management and a smooth business process. Inventory sampling is a time-saving method that only counts a portion of stocks, which is especially useful when time or labor is limited. Precise counting lists and software tools also help to increase accuracy and avoid errors in annual inventories. By using modern inventory methods and tools, companies can make their inventory more efficient, saving time and costs.

Various products and technologies support the efficient implementation of permanent inventory. Barcode scanners and RFID readers are essential hardware components for stocktaking. These devices enable fast and precise recording of stock levels and can be connected directly to the warehouse accounting system. Permanent inventory software offers functions for managing inventory data, creating inventory lists and compiling orders. Modern systems also integrate functions for analyzing stock shortages and improving inventory results. RFID asset inventory and barcode inventory are particularly useful for stocktaking in large warehouses. Mobile devices and apps also make it easier to take stock directly at the storage location.

Permanent inventory is used in various areas. It plays a particularly important role in stock accounting and the stocktaking of large warehouses. Companies in retail, production and wholesale use this method to monitor their stock values precisely. Permanent inventory also offers advantages in order compilation and the management of storage locations. Cycle counting is a special form of permanent inventory in which stocks are counted regularly and on a rotating basis. This reduces the workload and causes less disruption to day-to-day business. In addition, perpetual inventory is also used in accounting to ensure precise and up-to-date accounting.

Despite the many benefits, permanent inventory also comes with some challenges. Implementing and maintaining a permanent inventory requires careful planning and sufficient manpower. Technical problems with a barcode inventory system or an RFID inventory system can interfere with stocktaking. Companies need to ensure that their permanent inventory software is reliable and user-friendly. In addition, high acquisition costs for inventory hardware, such as barcode and RFID readers, can be a hurdle. Regular training is necessary to ensure that employees use the inventory methods correctly. Also, misplaced inventory can lead to confusion if not done correctly.

In recent years, a number of trends have developed in permanent inventory. The integration of RFID technology is particularly noteworthy. RFID stock management systems enable even faster and more accurate recording of stock without direct visual contact with the items. The use of cloud-based solutions for perpetual inventory software is also becoming increasingly popular. These systems offer the advantage that data is updated in real time and can be accessed from anywhere. Automation and artificial intelligence are also playing an increasing role in inventory. These technologies can help to reduce the workload and further improve the accuracy of the inventory. Another trend is the increased use of mobile devices and apps for stocktaking.