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inventory
Preparation for Inventory
Define the inventory period
Gather necessary tools (e.g., counting sheets, barcode scanners)
Ensure all items are labeled and organized
Train staff on inventory procedures
Conducting Inventory
Assign roles and responsibilities to team members
Perform a physical count of all items
Verify quantities against inventory records
Note any discrepancies or damaged items
Recording Inventory
Input counted data into inventory management system
Update item descriptions and locations as needed
Document any adjustments for discrepancies
Review and approve recorded data with relevant stakeholders
Post-Inventory Review
Analyze inventory data for trends and issues
Identify slow-moving or obsolete items
Plan for restocking or discontinuation of items
Schedule regular inventory audits to maintain accuracy
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