Interested to Buy Any Domain ? << Click Here >> for more details...
define the difference between cycle counting and physical
inventory?
- 7 Answers
- 42482 Views
- Excelacom, Infosys, Sun Microsystems, I also Faced
- E-Mail Answers
Answer Posted / vijay
Basic idea behind conducting Stock Count thru Cycle Count (CC)or Physical Inventory (PI) remains the same of streamlining your inventory. Now it is not mandatory to conduct the CC or PI yearly once or once in six months or 3 months so on and so forth, this is purely the decision of the business (client).
Conducting the stock count process remains same in CC or PI on a broader level.Both processes;
1.select the items for the count
2.system snapshot
3.printing report of system snapshot without item qty
4.entering physical stock qty
5.printing report for the qty variation between physical and system qty
6.recounting the item quantities in case of variation above tolerance level (optional)
7.approving the qty varaitions
8.posting the adjustment with appropriate transaction type and transaction account
Differences in CC and PI:
CC - It is stock count method where you select item or list of items which have to be counted.Now you can select the items either by manually selecting for each CC or by creating item groups using ABC analysis. By performing ABC Analysis you group the items and perform the CC for each group or collectively.You execute the CC programs and take the system snapshot as on date. Later you either manually enter the physical qty or import the physical qty using interface program.
PI - It is stock count method where you select items in an inventory org or subinventory/subinventories. Then you execute the generate tags program to create unique tag no. for each item in the list and subsequently take system snapshot. Then you manually enter the physical qty against each item and find the variance and finally pass the adjustment on approval.
| Is This Answer Correct ? | 5 Yes | 4 No |
Post New Answer View All Answers
What are the FAQ's asked Functional consultants in SCM ? If any one knows please send.
What are the accounting behind consigned inventory in P2P?
What is the use of LC? How is it useful in export sales?
can u send me the supporting issues in oracle apps scm functional such as inventory,purchasing and order management
Can you pls provide the interview questions on oracle apps SCM.including ASCP module.
What is the use of LC? How is it useful in export sales?
Oracle report builder 6i is view based then what about report builder 10g?
Have you handled SR and worked with Oracle for resolution of issues? If yes, how do you assign the priority while raising a SR?
Navigation to change the serial numbers from Shipping Transaction form.
Explain difference between discrete mfg and process manufacturing?
In order management, how to reserve an item without booking?
Where to find the ISO accounting entry details?
What are the different types of excise exemptions?
Tell me is there a way to update schedule ship date for all lines of so in one go?
In India Localization how are generating Excise and VAT Invoice number both shippable and non-shippable Sales Orders/Transactions.
