A perpetual inventory control is a method used by various firms to keep track of their inventory. In this method every time a product or good is received by the company, or sold to the customer, it automatically updates the inventory list.
This method is a bit on the expensive side but is mostly preferred by large companies and stores to keep track of their inventory. A perpetual inventory control doesn’t require inventory to be counted physically but technology takes care of that and maintaining that technology is a necessary.
For a perpetual inventory control, many stores use tag system which scans the barcode on a product every time it is sold or it can also be used to track the date and time exactly of when the product was sold. For inventory purposes, scanning is done which automatically updates the list of the software that these products have just been brought in the store on this date and at this price.
The perpetual periodic table saves a lot of time and physical labor that would otherwise go into hand counting all of the inventory. This method boosts effectiveness and efficiency to the fullest which paves way for more profit and lesser money spent on useless inventory purchases and spoilage. It also gives out instant information to the authorities and keeps a check and balance to ensure that no inventory is stolen or misplaced.
Download your file below.
PERPETUAL INVENTORY CONTROL TEMPLATE
File Size: 30 KB