The Inventory Count feature supports improved tracking of inventory and tighter control over assets. When this feature is enabled, you can enter regular periodic counts of on-hand item quantities to maintain inventory accuracy. Keeping an accurate item count can help reduce required safety stock, which lowers your overhead costs.
To use this feature, first define the Next Count Date and your intended Count Interval in days on an item record. NetSuite then uses this information to calculate when that item needs to be counted.
You can create an inventory count in two ways:
Creating Calculated Inventory Counts – Use NetSuite's calculated list of items to create one or more inventory counts that are due.
The Create Inventory Count page shows a list of items that are due to be counted. Check the box in the Select column next to each item you want to count, or check the All Items box to count all items that meet your specified criteria. When you click Submit, the inventory count is recorded.
Creating Manual Inventory Counts – Manually create an individual inventory count for an item.
After an inventory count is created, click Start Count on the record to begin the process. NetSuite takes a snapshot of the on-hand count of the items to be counted. After a manual count of items has been completed in the warehouse, the count data can be entered in NetSuite using the Inventory Count form. Click Edit on the count and enter the number of items on hand. You can edit and change the count data on a count form multiple times until the count is marked Complete.
When the inventory count transaction status is set to Started, a snapshot of the inventory on hand quantity is taken from the system for comparison. If you continue to process inventory changes while the counting activities are occurring, please note these changes. Please include these changes when you enter the Count Quantity into the inventory count transaction.
A completed count can be reviewed to be approved or rejected. A rejected count must be counted again by the warehouse manager. An approved count generates variances to account for any quantity differences between the original snapshot and the final count.
For items using calculated inventory counts, when you return to the item record of an item you have completed a count for, the Inventory subtab shows count data, including the last count date and next count date.
The Advanced Bin/Numbered Inventory Management feature must be enabled to support inventory counts of serialized or lot numbered items.