Physical Inventory ERP Module

Flexible Cycle Counting

With the Physical Inventory Management module, you can take comprehensive, enterprise-wide inventory counts or count a fewer number of items with greater frequency. The system dynamically highlights items for cycle counts based on user-specific criteria. By counting high value and critical items more frequently, you can minimize the inventory levels of those items by improving inventory accuracy to avoid costly shortages.

A well-regimented cycle counting strategy can eliminate the need for the annual wall-to-wall stock count. GLOVIA G2’s Physical Inventory management system incorporates full capabilities for count variance reconciliation, results and impact reporting. Inventory counts and updates can be performed for either single, user-specified locations or your entire enterprise.

Closed-Loop Process

This physical inventory management system provides a full-structured, closed loop process for counting, reconciling and updating inventories. Flexible freeze options allow GLOVIA G2 to perform inventory counts without disrupting business operations, while exception reports warn of potential error conditions whenever counts conflict with existing data.

Accurate Inventory

Accurate inventory quantities are essential for effective planning and control of your production and distribution processes. The annual wall-to-wall inventory count can be a costly and time-consuming event that diverts your company’s precious resources from your main goal of creating revenue. The Physical Inventory management module helps your company manage this necessary counting and reconciliation process efficiently with minimum disruption.

Variety of Reporting Capabilities

The Physical Inventory management module provides a variety of comprehensive reports, including: a missing tags report, variances reports for interim and final counts, and financial impact reports. All of which help manage, reconcile and audit the physical inventory process. Inventory count data can be retained as long as necessary, providing the ability to audit and verify historical data.

Cycle Count Automatic Queue Generation

• System-selected items and locations for counting
• User-defined intervals by ABC class
• Cycle counts by commodity code
• User may accept or modify all eligible items and/or locations
• Multiple concurrent cycle counts can be performed.
• Cycle identifier controls each cycle

Inventory Tag Generation

• Generates tags for all items and location combinations planned under that count
• Creates a separate tag for each lot and/or serial combination
• Allows generation of additional blank tags for additional items and quantities counted.
• Allows reversals for generation process

Freeze Options

• Determine quantity on-hand at any time per user discretion
• Require freeze before count entry
• Freeze during cycle-count entry
• Allow adjustments after freeze to correct errors
• Retain original quantity
• Allow freeze reversal

Inventory Count and Recount

• Unlimited recounts permitted
• Original quantity retained for audit
• Automatic recounting requirement can be invoked based tolerances
• Editing provided for stock, non-stock and nonstandard items
• Tag voiding with reason code
• Original count reversal allowed
• Tolerance by commodity
• Cycle count interval by location and ABC value

Update of Perpetual Inventory

• Close of physical inventory or cycle counting process
• Update perpetual inventory records with final results
• Update options by cycle count, cycle ID, or full physical inventory

User-Controlled Purging

• Tags and control files
• By master location
• By cycle count ID
• By full physical inventory

Inquiries and Reports

• Item tags
• Status inquiry
• Cycle count status
• Physical inventory status
• Cycle count queue
• Printed tags
• Missing tags
• Pre-update variances
• Pre-update exceptions
• Variances
• Period variances
• Inventory update